Freshpet(FRPT) - 2022 Q4 - Earnings Call Presentation

Financial Performance - Freshpet Q4 net sales reached $165.5 million[13], a 43% increase compared to the previous year[14] - Full year 2022 net sales totaled $595.3 million[34], representing a 40% increase[14] - Q4 Adjusted EBITDA was $18.8 million[37], a 148% increase year-over-year[37] - Full year 2022 Adjusted EBITDA was $20.1 million[37], a 43% decrease compared to the previous year[37] - Adjusted Gross Profit as a percentage of net sales for Q4 2022 was 33%[122], compared to 40.6% in Q4 2021[122] - Adjusted SG&A expenses as a percentage of net sales for Q4 2022 was 22.4%[112], compared to 34.1% in Q4 2021[112] Consumer Base and Penetration - Freshpet's household penetration grew to 9,570,744 in 2022[16] - There was continued growth in consumer franchise, approaching 10 million households[74] - The number of ultra/super heavy/heavy buyers increased by 31%[58] Strategic Initiatives and Outlook - The company is driving efficiencies in logistics and leveraging scale in COGS and SG&A[6,11,12] - Projected capital spending for 2023 was reduced by $50 million compared to previous guidance[62] - The company is investing more than 25% more in media in 2023[96]