Stryve Foods(US:SNAX) Globenewswire·2025-04-01 21:19Core Insights - Stryve Foods, Inc. reported preliminary financial results for FY 2024, indicating net sales of $21.0 million, an increase of 18.5% year-over-year [1][2] - The company achieved an adjusted EBITDA loss of $8.0 million, reflecting a 32.4% improvement compared to the previous year [2] - Significant balance sheet transformations are underway, including a reduction of current liabilities by $8.7 million and the elimination of over $10.2 million in future lease payments [4] Financial Performance - For FY 2024, Stryve incurred an operating loss of approximately $10.6 million, an improvement of 31.2% from the prior year [2] - Cash used in operating activities was approximately $7.9 million, compared to $7.4 million in FY 2023 [2] - In Q4 2024, net sales reached $4.5 million, up 57.5% from the same period in 2023 [3] Balance Sheet and Capital Structure - As of December 31, 2024, the company had a working capital deficit of approximately $15.0 million, up from $7.4 million in the previous year [2] - The company had approximately $16.4 million in indebtedness as of the same date [2] - The company plans to finance operations through equity offerings, debt financings, or strategic transactions until it can generate positive cash flow [5] Operational Developments - The company filed Form 12b-25, indicating delays in filing its Annual Report on Form 10-K due to working capital constraints [6] - Stryve is focused on high-protein, healthier snacking options, with products marketed under various brand names [7][8]