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Earnings Call Summary | Stryve Foods(SNAX.US) Q1 2024 Earnings Conference

決算説明会のまとめ | ストライブ・フーズ(SNAX.US)2024年第1四半期決算会議

moomoo AI ·  05/18 08:25  · 電話会議

The following is a summary of the Stryve Foods, Inc. (SNAX) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Stryve Foods reported Q1 2024 net sales of $4.6 million, a slight decrease compared to the same period last year.

  • Gross profit for the quarter was $1.2 million, an increase from the gross profit of $0.96 million in the same period last year.

  • Operating expenses reduced by 22.7% to $4.0 million from the year ago period.

  • The operating loss saw a 29% reduction to $3 million compared to the same quarter last year.

  • The net loss was $3.9 million, an improvement from $4.6 million in the prior year period.

  • The adjusted EBITDA loss for the first quarter was $2.3 million, improved from a loss of $3.5 million in the year-ago quarter.

  • The company's cash position at the end of Q1 2024 was approximately $0.4 million.

Business Progress:

  • Stryve Foods has seen significant improvements in strategic areas, such as their new packaging initiative, dramatically enhancing retail velocity.

  • The quality of products has improved, leading to a better consumer experience and operational efficiencies.

  • Waste has reduced while the overall cost structure is more efficient.

  • The company regained its position for the Vacadillos brand at Costco's Southeast division.

  • The focus is strongly on new distribution and expansion of distribution footprint.

  • There is a robust innovation pipeline for further brand and category expansion.

  • Investments in technology and processes are ongoing to enhance agility and expand margins.

  • Stryve's 2024 target for net sales ranges between $24 million to $30 million.

More details: Stryve Foods IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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