Company Wins Awards Eighth Year in a Row, including "I Could Eat This Everyday", Best Sauce and Best Chicken EAST RUTHERFORD, NJ, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Mama's Creations, Inc. (NASDAQ: MAMA), a leading national marketer and manufacturer of fresh deli prepared foods, today announced that QVC customers have for the eighth year in a row voted MamaMancini's products as #1 in the "I Could Eat This Everyday", Best Sauce and Best Chicken categories during the 2024 QVC Customer Choice® Food Awards. Ever ...

Mama's Creations, Inc. (MAMA) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this company would post earnings of $0.02 per share when it actually produced earnings of $0.01, delivering a surprise of -50%. Over the last four quarters, the comp ...

Second Quarter Revenues Increase 14% to $28.4 Million Company Continues Cadence of New Sales Wins, Including an Initial 2,000 Store Placement in Wal-Mart and a Costco National Buy in the Second Half of 2024 EAST RUTHERFORD, NJ, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Mama's Creations, Inc. (NASDAQ: MAMA), a leading national marketer and manufacturer of fresh Deli prepared foods, has reported its financial results for the second quarter ended July 31, 2024. Financial Summary: | --- | --- | --- | --- | --- | --- | ...

Chief Operating Officer Appointment Pulls on Tier-1 Experience with Firms Such as Walmart, Procter & Gamble, Gordon Food Service and Campbell Soup to Help Institutionalize the Operations Organization EAST RUTHERFORD, NJ, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Mama's Creations, Inc. (NASDAQ: MAMA), a leading national marketer and manufacturer of fresh Deli prepared foods, today announced the appointment of end-to-end supply chain and operations leader Moore (Skip) Tappan to the role of Chief Operating Officer, f ...

UncleDmytro/iStock via Getty Images "We're not fast food. We're home meal replacement!" So said Boston Market management to an audience of stock analysts (including me) back around the mid-1990s. Back then, the restaurant chain was relatively new. And it was very popular. Lines in my neighborhood often stretched outside the door. And typically, there wasn't a seat to be had. Food quality slid. But prices remained high. Meanwhile, the company took on lots of debt to expand rapidly. But operations weren't too ...

EAST RUTHERFORD, NJ, June 25, 2024 (GLOBE NEWSWIRE) -- Mama's Creations, Inc. (NASDAQ: MAMA), a leading national marketer and manufacturer of fresh Deli prepared foods, today announced its participation and exhibition at the following trade shows in Summer 2024: 2024 UNFI Fresh Specialty Show Date: July 24, 2024 Location: San Francisco, CA About: The United Natural Foods (UNFI) Fresh Specialty Show focuses on fresh foods and is a one-day event that provides exhibitors with the opportunity to showcase their ...

Core Insights - Mama's Creations, Inc. is actively participating in several trade shows during Summer 2024 to enhance its market presence and customer engagement [1][2][4] - The company aims to leverage its recent successes from Spring trade conferences to drive further growth and customer acquisition [2][4] - Mama's Creations offers a diverse portfolio of fresh, clean, and easy-to-prepare foods, positioning itself as a one-stop-shop deli solutions platform [4] Trade Show Participation - The company will exhibit at the 2024 UNFI Holiday & Winter Show on August 6-7, 2024, in Minneapolis, MN, which connects suppliers and customers in the Central and Western U.S. [6] - Mama's Creations will also participate in the NACUFS 2024 National Showcase from July 17-20, 2024, in Louisville, KY, focusing on collegiate dining trends [5] - Another event is the 2024 UNFI Fresh Specialty Show on July 24, 2024, in San Francisco, CA, dedicated to fresh foods [8] - The company plans to attend the 2024 National Association of Convenience Stores (NACS) Show from October 8-10, 2024, in Las Vegas, NV, which historically attracts over 23,000 attendees [9] Marketing Strategy - The Chief Marketing Officer highlighted the importance of trade shows in generating interest from both new and existing customers, contributing to an increase in average SKUs per customer [2][3] - The company emphasizes the opportunity for attendees to experience its high-quality products firsthand, which is seen as a key strategy for engaging potential customers [3] Company Overview - Mama's Creations, Inc. is a leading marketer and manufacturer of fresh deli prepared foods, available in over 8,000 retail locations across the U.S. [4] - The company’s product offerings are rooted in a rich history of Italian foods and aim to meet the evolving demands of modern consumers [4]

Executive Summary & Highlights [First Quarter Fiscal 2025 Financial Highlights](index=1&type=section&id=1.1%20First%20Quarter%20Fiscal%202025%20Financial%20Highlights) Mama's Creations achieved record Q1 FY2025 revenue of **$29.8 million**, up 29% YoY, generating **$3.6 million** in operating cash flow, though net income declined due to one-time expenses and commodity price impacts Q1 FY2025 Financial Highlights | Metric | Q1 FY2025 ($M) | Q1 FY2024 ($M) | % Increase (YoY) | | :----------------- | :------------- | :------------- | :--------------- | | Revenues | 29.8 | 23.1 | 29% | | Gross Profit | 7.5 | 6.4 | 17% | | Operating Expenses | 6.7 | 4.4 | 51% | | Net Income | 0.6 | 1.4 | (61)% | | Earnings per Share (Diluted) | 0.01 | 0.04 | (75)% | | Adj. EBITDA (non-GAAP) | 2.5 | 2.5 | 1% | - Net income was impacted by **$0.9 million** in one-time operating expenses, including **$0.5 million** in non-cash share-based compensation, to correct options granted by prior management in 2018 and 2019[2](index=2&type=chunk) - Operating cash flow increased to **$3.6 million** in Q1 FY2025[1](index=1&type=chunk)[3](index=3&type=chunk) [Key Operational & Strategic Highlights](index=1&type=section&id=1.2%20Key%20Operational%20%26%20Strategic%20Highlights) The company achieved key operational milestones in Q1 FY2025, including selection for Costco roadshows, active participation in major trade shows, new product launches, and a significant increase in cash reserves - Selected by Costco Wholesale Corporation for "Costco Roadshows" in the Northeast region to evaluate products for long-term placement in Costco stores nationwide[3](index=3&type=chunk) - Participated in leading industry trade shows including UNFI Spring & Summer Show, NATSO Connect, DOT Innovations 2024, National Restaurant Association Show 2024, and IDDBA 2024 Show[3](index=3&type=chunk) - Launched several new products and flavors at the IDDBA 2024 show, including breakfast burritos, vacuum-sealed sliced chicken breast, meatball party packs, and gourmet paninis[3](index=3&type=chunk) - Cash and cash equivalents increased to **$13.0 million** as of April 30, 2024, up from **$11.0 million** on January 31, 2024, driven by **$3.6 million** in Q1 FY2025 operating cash flow[3](index=3&type=chunk) Management Commentary [Q1 Performance and Strategic Focus](index=2&type=section&id=2.1%20Q1%20Performance%20and%20Strategic%20Focus) Chairman and CEO Adam L. Michaels highlighted record Q1 revenue of **$29.8 million**, up 29% YoY, driven by purposeful growth and maintained gross margins around 20% despite commodity price increases, supported by the '4 Cs' strategy for future profitable growth - Q1 revenue grew **29%** to a record **$29.8 million** through purposeful and profitable growth[4](index=4&type=chunk) - Commodity price increases, particularly in chicken, impacted gross margin, but proactive labor and procurement efficiencies maintained gross margin around **20%**[4](index=4&type=chunk) - Generated **$3.6 million** in operating cash flow this quarter, strengthening the balance sheet and supported by an undrawn credit facility[4](index=4&type=chunk) - Emphasized operational execution and the "4 Cs" strategy (Cost, Control, Culture, and Catalyst) combined with macro trends in the deli prepared foods market, laying a foundation for consistent profitable growth in coming quarters[4](index=4&type=chunk) [Operational Efficiency and CapEx Investments](index=2&type=section&id=2.2%20Operational%20Efficiency%20and%20CapEx%20Investments) Management actively addresses commodity price increases through customer price adjustments and accelerated CapEx investments to improve the value chain, reduce labor costs, and enhance chicken processing capabilities, aiming to offset Q2 gross margin impacts and fund high-ROI trade promotions - Actively addressing recent commodity price increases through collaboration with customers on price adjustments and implementing automation and operational efficiency improvements[5](index=5&type=chunk) - Accelerating capital expenditure investments to improve the value chain, avoid third-party markups, and reduce labor costs, particularly in chicken processing capabilities[5](index=5&type=chunk) - Anticipate price increases and efficiency gains to offset most of the expected Q2 gross margin impact[5](index=5&type=chunk) - Plans to invest gross margin surplus beyond the high **20%** target range into more high-ROI trade promotion activities, with a long-term goal of **10%** of revenue[5](index=5&type=chunk) [Market Expansion and Product Innovation](index=2&type=section&id=2.3%20Market%20Expansion%20and%20Product%20Innovation) Building on successful Costco collaborations, the company was selected for Northeast Costco roadshows, aiming for long-term national expansion, and launched new products like breakfast burritos and sliced chicken breast at high-ROI industry shows such as IDDBA 2024, enhancing market presence and product diversity - Selected for "Costco Roadshows" in the Northeast, with potential for longer-term placement of new and existing products in Costco stores and national expansion[6](index=6&type=chunk) - Collaboration with Costco has expanded over the past twelve months, with products rotating in **5** out of **8** regions[6](index=6&type=chunk) - Enhanced industry presence and launched new product pillars by participating in high-ROI industry shows like IDDBA 2024[7](index=7&type=chunk) - Introduced new breakfast burritos, vacuum-sealed sliced chicken breast, meatball party packs, and gourmet paninis as key components of a one-stop deli strategy[7](index=7&type=chunk) [Growth Strategy and M&A Outlook](index=3&type=section&id=2.4%20Growth%20Strategy%20and%20M%26A%20Outlook) The 'Catalyst' strategy aims for growth through new SKUs, new tier-one customers, and sustained marketing, while a strong balance sheet positions Mama's Creations for attractive M&A opportunities to consolidate the fragmented prepared foods market and become a leading national deli solution provider - The "Catalyst" strategy aims to drive incremental growth through new SKUs with existing customers, develop new tier-one customers, and increase velocity of existing in-store items through sustained marketing and trade promotion investments[8](index=8&type=chunk) - The company believes attractive M&A opportunities within the industry, supported by a strong balance sheet, could position it as a consolidator in the fragmented prepared foods market[8](index=8&type=chunk) - The goal is to become the leading national one-stop deli solution platform[8](index=8&type=chunk) Detailed Financial Results [Revenue Performance](index=3&type=section&id=3.1%20Revenue%20Performance) Q1 FY2025 revenue increased **29%** YoY to **$29.8 million**, driven by enhanced distribution from club rotations, accelerated trade promotions, and healthy volume growth from cross-selling new products to existing customers Revenue Performance | Metric | Q1 FY2025 ($M) | Q1 FY2024 ($M) | % Increase (YoY) | | :------- | :------------- | :------------- | :--------------- | | Revenue | 29.8 | 23.1 | 29% | - Revenue growth primarily attributed to enhanced distribution from strong club rotations and accelerated velocity from incremental trade promotions[9](index=9&type=chunk) - Revenue also benefited from healthy and measurable volume growth driven by the company's extensive cross-selling of new products to existing customers[9](index=9&type=chunk) [Profitability Analysis](index=3&type=section&id=3.2%20Profitability%20Analysis) Gross profit grew **17%** to **$7.5 million**, but gross margin declined to **25.0%** due to commodity costs; operating expenses surged **51%** to **$6.7 million** from new hires and one-time non-cash fees, resulting in a **61%** net income decrease to **$0.6 million** and **$0.01** diluted EPS Profitability Analysis | Metric | Q1 FY2025 ($M) | Q1 FY2024 ($M) | % Increase (YoY) | | :----------------- | :------------- | :------------- | :--------------- | | Gross Profit | 7.5 | 6.4 | 17% | | Gross Margin % | 25.0% | 27.6% | (2.6) ppts | | Operating Expenses | 6.7 | 4.4 | 51% | | Net Income | 0.6 | 1.4 | (61)% | | Net Income % of Revenue | 1.9% | 6.1% | (4.2) ppts | | Diluted EPS | 0.01 | 0.04 | (75)% | - Gross margin variance primarily attributed to increased commodity costs, partially offset by approved price increases and the activation of installed automation and strategic capital expenditure projects[10](index=10&type=chunk) - Operating expenses increased due to several key new hires and non-cash expenses, including depreciation, amortization, and share-based compensation, which included **$0.9 million** in one-time expenses, of which **$0.5 million** was non-cash share-based compensation[11](index=11&type=chunk)[13](index=13&type=chunk) - Adjusted EBITDA (non-GAAP) remained consistent year-over-year at **$2.5 million**[13](index=13&type=chunk) [Cash Flow and Balance Sheet Overview](index=3&type=section&id=3.3%20Cash%20Flow%20and%20Balance%20Sheet%20Overview) As of April 30, 2024, cash and cash equivalents increased to **$13.0 million** from **$11.0 million** on January 31, 2024, primarily driven by **$3.6 million** in Q1 FY2025 operating cash flow, with total debt at **$8.3 million** Cash Flow and Balance Sheet Overview | Metric | As of April 30, 2024 ($M) | As of Jan 31, 2024 ($M) | Change ($M) | | :---------------------- | :------------------------ | :---------------------- | :---------- | | Cash and cash equivalents | 13.0 | 11.0 | 2.0 | | Total Debt | 8.3 | N/A | N/A | - The increase in cash and cash equivalents was primarily driven by **$3.6 million** in operating cash flow during Q1 FY2025[14](index=14&type=chunk) Non-GAAP Financial Measures [Adjusted EBITDA Reconciliation](index=4&type=section&id=4.1%20Adjusted%20EBITDA%20Reconciliation) The company provides a reconciliation of Adjusted EBITDA (a non-GAAP metric) to GAAP net income (loss), with Q1 FY2025 Adjusted EBITDA at **$2.533 million**, largely consistent with Q1 FY2024's **$2.519 million**, after adjustments for interest, taxes, depreciation, amortization, share-based compensation, and one-time legal settlement expenses - Adjusted EBITDA is a non-GAAP financial measure representing net income (loss) excluding interest, taxes, depreciation, and amortization, adjusted for share-based compensation and one-time costs related to a legal settlement[17](index=17&type=chunk) Adjusted EBITDA Reconciliation | Metric (in thousands) | Q1 FY2025 | Q1 FY2024 | | :-------------------------- | :-------- | :-------- | | Net Income (Loss) | $553 | $1,401 | | Depreciation | 292 | 248 | | Amortization | 369 | 113 | | Taxes | 179 | 525 | | Interest, net | 35 | 177 | | Share Based Compensation | 205 | 55 | | Stock & Cash Settlement Agreement | 900 | 0 | | **Adjusted EBITDA (Non-GAAP)** | **$2,533** | **$2,519** | Company Information & Disclosures [About Mama's Creations, Inc.](index=4&type=section&id=5.1%20About%20Mama%27s%20Creations%2C%20Inc.) Mama's Creations, Inc. is a leading national marketer and manufacturer of fresh, prepared deli foods available in over **8,000** stores, aiming to be a one-stop deli solution platform through vertical integration and a diverse brand family, meeting evolving consumer needs - Mama's Creations, Inc. is a leading national marketer and manufacturer of fresh, prepared deli foods, available in over **8,000** grocery stores, mass merchandisers, club stores, and convenience stores nationwide[16](index=16&type=chunk) - The company's vision is to be a one-stop deli solution platform, leveraging vertical integration and a diverse family of brands to offer a wide array of prepared foods meeting modern consumers' evolving needs[16](index=16&type=chunk) [Conference Call Details](index=4&type=section&id=5.2%20Conference%20Call%20Details) Management hosted an investor conference call on Tuesday, June 11, 2024, at 4:30 PM ET, to discuss Q1 FY2025 financial results and provide a company update - An investor conference call was held on Tuesday, June 11, 2024, at 4:30 PM ET, to discuss the company's Q1 FY2025 financial results[15](index=15&type=chunk) - US dial-in, international dial-in, conference ID, and webcast link details were provided[15](index=15&type=chunk) [Forward-Looking Statements](index=5&type=section&id=5.3%20Forward-Looking%20Statements) This press release contains forward-looking statements subject to various risks and uncertainties, including public health emergencies, liquidity, customer reliance, competition, raw material and freight pricing pressures, regulatory changes, and intellectual property, which could cause actual results to differ materially from projections - This press release may contain forward-looking statements as defined by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, often identified by words such as "may," "future," "plan," "will," and "expect"[19](index=19&type=chunk) - Such statements are subject to various risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements[19](index=19&type=chunk) - Risk factors include the impact of public health emergencies, liquidity adequacy, reliance on a few customers, loss of key executives, adverse economic conditions or intense competition, market pricing pressures, lack of control over raw material and freight pricing, new competitors and product entry, adverse governmental regulations, product consumption-related liabilities, ability to secure product placement at key retail points, wage and price inflation, quality control maintenance, and intellectual property enforcement issues[19](index=19&type=chunk) [Investor Relations Contact](index=5&type=section&id=5.4%20Investor%20Relations%20Contact) Investor relations contact information is provided, managed by Lucas A. Zimmerman, Managing Director at MZ Group – MZ North America - Investor Relations Contact: Lucas A. Zimmerman, Managing Director, MZ Group – MZ North America[20](index=20&type=chunk) - Contact details: (949) 259-4987, MAMA@mzgroup.us, www.mzgroup.us[20](index=20&type=chunk) Condensed Consolidated Financial Statements [Condensed Consolidated Balance Sheets](index=6&type=section&id=6.1%20Condensed%20Consolidated%20Balance%20Sheets) As of April 30, 2024, total assets increased to **$47.239 million** from **$45.101 million** on January 31, 2024, driven by higher current assets including cash and cash equivalents, while total liabilities also rose from **$25.52 million** to **$26.893 million** Condensed Consolidated Balance Sheets | Metric (in thousands) | As of April 30, 2024 | As of Jan 31, 2024 | | :-------------------------- | :------------------- | :----------------- | | **Assets:** | | | | Cash and cash equivalents | $13,043 | $11,022 | | Total current assets | $25,369 | $23,566 | | Property, plant, and equipment, net | $5,457 | $4,436 | | Total Assets | $47,239 | $45,101 | | **Liabilities:** | | | | Accounts payable and accrued expenses | $14,257 | $12,425 | | Total current liabilities | $18,522 | $16,690 | | Total long-term liabilities | $8,371 | $8,830 | | Total Liabilities | $26,893 | $25,520 | | **Stockholders' Equity:** | | | | Total Stockholders' Equity | $20,346 | $19,581 | [Condensed Consolidated Statements of Operations](index=8&type=section&id=6.2%20Condensed%20Consolidated%20Statements%20of%20Operations) Q1 FY2025 statements show net sales of **$29.838 million**, up from **$23.121 million** in Q1 FY2024; gross profit increased to **$7.463 million**, but operating expenses surged to **$6.69 million**, leading to a decline in operating and net income Condensed Consolidated Statements of Operations | Metric (in thousands) | Q1 FY2025 | Q1 FY2024 | | :-------------------------- | :-------- | :-------- | | Net sales | $29,838 | $23,121 | | Costs of sales | $22,375 | $16,750 | | Gross profit | $7,463 | $6,371 | | Operating expenses | $6,690 | $4,428 | | Income from operations | $773 | $1,943 | | Net income | $553 | $1,401 | | Net income per common share – diluted | $0.01 | $0.04 | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=6.3%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 FY2025 operating cash flow significantly increased to **$3.641 million** from **$1.611 million** in Q1 FY2024; investing cash outflows rose to **$1.144 million** due to increased capital expenditures, while financing cash outflows slightly decreased, resulting in a net cash increase of **$2.021 million** and period-end cash of **$13.043 million** Condensed Consolidated Statements of Cash Flows | Metric (in thousands) | Q1 FY2025 | Q1 FY2024 | | :---------------------------------- | :-------- | :-------- | | Net Cash Provided by Operating Activities | $3,641 | $1,611 | | Net Cash (Used in) Investing Activities | $(1,144) | $(145) | | Net Cash (Used in) Financing Activities | $(476) | $(585) | | Net Increase in Cash | $2,021 | $881 | | Cash and cash equivalents at end of period | $13,043 | $5,259 | - Cash outlays for property, plant, and equipment significantly increased to **$1.144 million** in Q1 FY2025 from **$0.145 million** in Q1 FY2024[27](index=27&type=chunk)

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First Quarter Revenues Increase 29% to Record $29.8 Million, Driving $3.6M in Cash Flow from Operations EAST RUTHERFORD, NJ, June 11, 2024 (GLOBE NEWSWIRE) -- Mama's Creations, Inc. (NASDAQ:MAMA), a leading national marketer and manufacturer of fresh deli prepared foods, has reported its financial results for the first quarter ended April 30, 2024. Financial Summary: | --- | --- | --- | --- | --- | |------------------------------|-----------------|-----------------|-------|---------------------------------- ...