Financial Data and Key Metrics Changes - Revenue for Q4 2025 was approximately $4.1 million, up from $3.9 million in the prior year, indicating strong performance across the business [11] - Full year revenue was approximately $12.8 million, down from $13.9 million in 2024, primarily due to the strategic exit from low-margin floral and lettuce segments [15] - Gross profit for Q4 was approximately a $1.2 million loss compared to flat in 2024, reflecting elevated costs from onboarding new retail customers [13] - Full year gross profit was approximately a loss of $0.2 million compared to a gain of $2.3 million in 2024, with a focus on recovering gross margins in 2026 [15] Business Line Data and Key Metrics Changes - Strong performance in cut herbs and vitamins/supplements, with double-digit growth driven by new accounts and existing relationships [7] - Significant growth in the condiment platform, supported by new customer wins such as Wakefern and Safeway [7] - Incremental distribution of over 700 additional retail locations, expanding reach across key markets [7] Market Data and Key Metrics Changes - The global ready-to-drink (RTD) category is estimated at approximately $842.5 billion in 2025 and projected to reach roughly $1.26 trillion by 2033, indicating a significant market opportunity [9] - The company is expanding its portfolio into higher margin, shelf-stable, and ready-to-drink categories, leveraging existing retail relationships [10] Company Strategy and Development Direction - The company is evolving from a core controlled environment agricultural platform to a broader innovation-driven consumer packaged goods business [6] - Focus on expanding into the RTD category, which is a fast-growing market with high demand for clean label, shelf-stable nutrition [8] - The strategy includes leveraging existing infrastructure and retail relationships to support long-term growth and scalability [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to continue gaining market share and expanding distribution, with a focus on maintaining strong relationships with major retailers [39] - The company is optimistic about the growth trajectory, particularly in the RTD segment, which is expected to provide robust margins and significant revenue opportunities [23] - Management emphasized the importance of operational excellence and customer satisfaction in driving future growth [20] Other Important Information - The company ended the year with improved stockholders' equity and reduced total debt, indicating a stronger balance sheet position [16] - The investment in new accounts during Q4 is seen as necessary for securing shelf space and building fulfillment capabilities for major retailers [13] Q&A Session Summary Question: How should we view the margins from fresh to CPG products? - Management expects more robust margins from the RTD and consumer packaged goods due to their shelf-stable nature, reducing shrink issues associated with fresh products [19] Question: Where specifically do you expect to put out your RTD products? - The RTD products will primarily be in the protein segment, with plans to develop private label products for major retailers [25] Question: What can we expect regarding CapEx requirements for the Midwest facility? - The facility will require significant CapEx for machines and retrofitting, with plans to be in the marketplace by the tail end of 2027 [33] Question: How sustainable is the level of growth and distribution gains? - Management is confident in sustaining growth and expanding distribution, driven by increased consumer demand for fresh goods and the company's operational improvements [38]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was approximately $4.1 million, up from $3.9 million in the prior year, indicating strong performance across the business [11] - Full year revenue was approximately $12.8 million, down from $13.9 million in 2024, primarily due to the strategic exit from low-margin floral and lettuce segments [15] - Gross profit for Q4 was approximately a $1.2 million loss compared to flat in 2024, reflecting elevated costs from onboarding new retail customers [13] - Full year gross profit was approximately a loss of $0.2 million compared to a gain of $2.3 million in 2024, with a focus on recovering gross margins in 2026 [15] Business Line Data and Key Metrics Changes - Strong performance in cut herbs and vitamins/supplements, with double-digit growth driven by new accounts and existing relationships [7] - Significant growth in the condiment platform, supported by new customer wins such as Wakefern and Safeway [7] - The nutraceutical business showed strong growth in the double-digit range year-over-year, expected to be a larger component of revenue growth going into 2026 [22] Market Data and Key Metrics Changes - The global ready-to-drink (RTD) category is estimated at approximately $842.5 billion in 2025 and projected to reach roughly $1.26 trillion by 2033, representing a significant market opportunity [9] - The company is expanding its retail footprint to nearly 6,000 store locations, reflecting growing demand and market share [6] Company Strategy and Development Direction - The company is evolving from a controlled environment agricultural platform to a broader innovation-driven consumer packaged goods business, focusing on higher growth and higher margin opportunities [6] - Plans to expand into the RTD category, leveraging existing infrastructure and retail relationships to meet growing demand for clean label, shelf-stable nutrition [8] - The strategy includes a focus on scaling presence in higher margin RTD categories while diversifying the consumer packaged goods business beyond fresh produce [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of growth, citing strong demand for fresh goods and the company's ability to maintain high in-stock rates with major retailers [38] - The company is optimistic about the future, focusing on executing its strategy and expanding into higher margin categories while leveraging its retail network [49] Other Important Information - The company made deliberate investments in onboarding new retail customers to secure shelf space for 2026, which is expected to normalize costs as programs mature [12] - Full year SG&A expenses increased to approximately $15.3 million from $11.6 million in 2024, driven by acquisitions and investments in infrastructure [16] Q&A Session Summary Question: How should margins be viewed as the company transitions to more shelf-stable CPG products? - Management expects more robust margins from the RTD business compared to fresh products, with stable business operations due to better control over manufacturing [19][20] Question: What is the expected revenue breakdown for CPG versus fresh through 2026? - The core CEA business is expected to return to steady growth in the high-single digits, while the RTD business presents significant revenue opportunities with margins in the 20%-30% range [22][23] Question: What products will be developed in the RTD category? - The focus will be primarily on protein products, with plans to develop private label offerings for major retailers [25][26] Question: What are the CapEx requirements and timeline for the Midwest facility? - Significant CapEx is anticipated for the facility, with plans to be in the marketplace by the tail end of 2027 [33]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was approximately $4.1 million, up from $3.9 million in the prior year, indicating strong business performance [10] - Full year revenue was approximately $12.8 million, down from $13.9 million in 2024, primarily due to the strategic exit from low-margin floral and lettuce segments [12] - Gross profit for Q4 was approximately a $1.2 million loss compared to flat in 2024, reflecting elevated costs from onboarding new retail customers [11] - Full year gross profit was approximately a loss of $0.2 million compared to a gain of $2.3 million in 2024, with a focus on recovering gross margins in 2026 [13] - Selling, general, and administrative expenses for the full year were approximately $15.3 million, up from $11.6 million in 2024, driven by the Natural Shrimp acquisition and other capital market activities [14] Business Line Data and Key Metrics Changes - Strong performance in core produce and consumer packaged goods (CPG) categories, with double-digit growth in cut herbs and continued strength in the vitamin and supplement portfolio [6] - Significant growth in the condiment platform, supported by new customer wins such as Wakefern and Safeway [6] - Incremental distribution of over 700 additional retail locations, expanding reach across key markets [6] Market Data and Key Metrics Changes - The global ready-to-drink (RTD) category is estimated at approximately $842.5 billion in 2025 and projected to reach roughly $1.26 trillion by 2033, representing a significant market opportunity [8] Company Strategy and Development Direction - The company is evolving from a core controlled environment agricultural platform to a broader innovation-driven CPG business, focusing on higher growth and higher margin opportunities [5] - Plans to expand into the RTD category, leveraging existing infrastructure and retail relationships to meet growing demand for clean label, shelf-stable nutrition [7] - The strategy includes scaling presence in higher margin RTD categories while diversifying the CPG business beyond fresh produce [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to continue gaining market share and expanding distribution, supported by strong retail relationships [5] - The focus remains on executing the strategy to deliver predictable and scalable results, positioning the company for sustainable long-term growth [9] - Management highlighted the importance of maintaining strong relationships with existing customers to drive future growth [41] Other Important Information - The company is developing a state-of-the-art RTD manufacturing initiative at its Midwest facility, with plans to meet growing retailer demand at scale [8] - The investment in new accounts during Q4 is seen as necessary to secure shelf space and deepen relationships with major retailers [11] Q&A Session Summary Question: How should we view the margins from fresh to CPG products? - Management expects more robust margins from the RTD and CPG business due to the stability of shelf-stable products compared to fresh goods [16][17] Question: What is the expected revenue breakdown for CPG versus fresh through 2026? - The core CEA business is expected to return to steady growth, while the nutraceutical business showed strong growth, with RTD business anticipated to have significant revenue opportunities and higher margins [23][24] Question: Where specifically will the RTD products be positioned? - The RTD products will primarily be in the protein segment, with plans to develop private label products for major retailers [26][27] Question: What are the CapEx requirements and timeline for the Midwest facility? - The facility will require significant CapEx for machines and retrofitting, with plans to be in the marketplace by the end of 2027 [35]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 increased by 9% year-over-year to $2.8 million, compared to $2.6 million in Q3 2024, driven by strong performance in the shelf-stable product portfolio [14][7] - Gross profit totaled approximately $0.3 million, down from $0.7 million in the prior year, due to higher labor, freight, and raw material costs [14] - Net loss for the quarter was $4 million, compared to a net loss of $2.1 million in Q3 2024 [15] Business Line Data and Key Metrics Changes - The shelf-stable product portfolio grew by 54% year-over-year in Q3, with notable brands like KICK Sports Nutrition, Vitamin Way, Pulp, and Pickle Party contributing to this growth [14][7] - Core herb portfolio saw significant growth, with Hydrobasil up 21% and Wheatgrass up 59% year-over-year [14] Market Data and Key Metrics Changes - The functional food and beverage market is projected to grow from approximately $400 billion to $610 billion by 2030, indicating a strong market opportunity for the company [9] - In the U.S., sales of natural, organic, and functional products are expected to reach $386 billion by 2028, reinforcing the company's strategic alignment with market trends [9] Company Strategy and Development Direction - The company is evolving towards a consumer packaged goods (CPG) model, focusing on non-perishable product expansion and higher-value branded portfolio [7] - Strategic partnerships with major retailers like Kroger and Fresh Market are being strengthened, expanding the company's retail footprint [8] - The company is pursuing new categories such as nutraceuticals, sustainable proteins, and functional foods, guided by a zero-waste approach [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning for continued growth, emphasizing disciplined execution and product innovation [13] - The current political environment is pushing for less processed foods, creating opportunities for the company to align with consumer demand for clean-label products [28] Other Important Information - The company has refinanced its outstanding debt, securing lower interest rates and more favorable terms, which is expected to reduce annual interest expenses [15] - The company ended the quarter with $0.8 million in cash and equivalents, down from $3.5 million at year-end 2024 [15] Q&A Session Summary Question: Utilization of the Natural Shrimp facility - Management discussed the facility's impressive location and its potential for R&D on next-generation products, including nutraceuticals and food [22][24] Question: Opportunities with grocery stores - Management confirmed that major grocery chains like ShopRite, Kroger, and Fresh Market represent significant opportunities moving into 2026, driven by demand for clean-label products [27][28] Question: Margin related to private label products - Management indicated that while private label products may have lower margins, they provide volume and long-term relationships with major retailers, which are crucial for business growth [31][32]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 increased by 9% year-over-year to $2.8 million, up from $2.6 million in Q3 2024, driven by strong performance in the shelf-stable product portfolio [14][7] - Gross profit totaled approximately $0.3 million, down from $0.7 million in the prior year, reflecting higher labor, freight, and raw material costs [14] - Net loss increased to $4 million from a net loss of $2.1 million in Q3 2024 [15] Business Line Data and Key Metrics Changes - The shelf-stable product portfolio grew by 54% year-over-year in Q3 2025, with notable growth in brands such as KICK Sports Nutrition, Vitamin Way, Pulp, and Pickle Party [14][7] - Core herb portfolio saw growth with Hydrobasil up 21% and Wheatgrass up 59% year-over-year [14] Market Data and Key Metrics Changes - The functional food and beverage market is projected to grow from approximately $400 billion to $610 billion by 2030, indicating a significant opportunity for the company [9] - In the U.S., sales of natural, organic, and functional products are expected to reach $386 billion by 2028, reinforcing the company's strategic alignment with market trends [9] Company Strategy and Development Direction - The company is evolving towards a consumer packaged goods (CPG) model, focusing on non-perishable product expansion and higher-value branded portfolio [7] - Plans to pursue new categories including nutraceuticals, sustainable proteins, and functional foods, guided by a zero-waste approach [12][13] - The company aims to strengthen retail partnerships and advance product innovation to build long-term shareholder value [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning for continued growth, particularly in the fourth quarter, which is traditionally a strong season [13] - The company is well-positioned to capitalize on the growing demand for clean-label, better-for-you products, with major retailers showing interest in private label collaborations [28][29] Other Important Information - The company has completed its strategic exit from the floral and lettuce categories, which is reflected in the current quarter's performance [14] - The company refinanced its outstanding debt, securing lower interest rates and more favorable terms, which is expected to reduce annual interest expenses [15] Q&A Session Summary Question: Can you talk about the build-out of the Natural Shrimp facility and its intended utilization? - Management highlighted the facility's impressive location and plans for R&D on next-generation products, with significant opportunities from major retailers [22][24] Question: Are grocery stores the largest opportunity moving into 2026? - Management confirmed that grocery chains like ShopRite, Kroger, and Fresh Market represent significant opportunities, driven by demand for clean-label products [27][28] Question: How are margins affected by private label products? - Management indicated that while private label may have lower margins, there are opportunities for volume contracts and deeper relationships with major retailers [31][32] Question: What is the outlook for KICK Sports Nutrition? - Management noted that KICK is gaining traction and is well-positioned to meet the growing consumer interest in plant-forward performance nutrition [10][30]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 increased by 9% year-over-year to $2.8 million, compared to $2.6 million in Q3 2024, driven by strong performance in the shelf-stable product portfolio [14][15] - Gross profit totaled approximately $0.3 million, down from $0.7 million in the prior year, due to higher labor, freight, and raw material costs [15] - Net loss for the quarter was $4 million, compared to a net loss of $2.1 million in Q3 2024 [15] Business Line Data and Key Metrics Changes - The shelf-stable product portfolio grew by 54% year-over-year in Q3, with notable performance from brands like KICK Sports Nutrition, Vitamin Way, Pulp, and Pickle Party [14][15] - Core herb portfolio saw growth, with Hydrobasil up 21% and Wheatgrass up 59% year-over-year [15] Market Data and Key Metrics Changes - The functional food and beverage market is projected to grow from approximately $400 billion to $610 billion by 2030, indicating a significant opportunity for the company [10] - In the U.S., sales of natural, organic, and functional products are expected to reach $386 billion by 2028, reinforcing the company's strategic alignment with market trends [10] Company Strategy and Development Direction - The company is evolving towards a consumer packaged goods (CPG) model, focusing on non-perishable product expansion and higher-value branded portfolio [7][8] - Strategic partnerships with major retailers like Kroger and Fresh Market are being leveraged to expand the retail footprint and enhance brand visibility [9][13] - The company is pursuing new categories, including nutraceuticals and sustainable proteins, to align with its commitment to health and environmental responsibility [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning for continued growth, emphasizing disciplined execution and product innovation [13][44] - The company is optimistic about the upcoming holiday season, traditionally a strong period for sales, and is focused on expanding its innovative product offerings [25][44] Other Important Information - The company has refinanced its outstanding debt, securing lower interest rates and more favorable terms, which is expected to reduce annual interest expenses [15] - The facility acquired from Natural Shrimp is undergoing a gap analysis for R&D on next-generation products, indicating a focus on innovation and sustainability [21][24] Q&A Session Summary Question: Utilization of the Natural Shrimp facility - Management discussed the facility's impressive capabilities and plans for R&D on nutraceuticals and food products, highlighting strong relationships with major retailers [21][24] Question: Opportunities in grocery stores for 2026 - Management confirmed that grocery chains like ShopRite, Kroger, and Fresh Market represent significant opportunities moving into 2026, driven by demand for clean-label products [27][28] Question: Margin considerations for private label products - Management indicated that while private label products may have lower margins, they provide volume and long-term contracts, which are essential for business stability [31][33]