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Share Name | Share Symbol | Market | Type |
---|---|---|---|
BranchOut Food Inc | NASDAQ:BOF | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.08 | 5.48% | 1.54 | 1.47 | 1.68 | 1.64 | 1.45 | 1.45 | 47,428 | 01:00:00 |
Eric Healy, CEO of BranchOut Foods, said, “We are very pleased with BranchOut Food’s significant growth and accomplishments since our IPO in June 2023. In the ensuing nine months, we have built strong, long-term relationships with some of the nation’s leading retailers, and our products have now established popularity among shoppers in stores throughout the country.
“The fourth quarter was marked by revenue nearly doubling that of the previous total year, while gross margin improved as the year progressed. We also expect revenue to continue to grow in 2024. Our rising gross profit percentage is attributed to reduced retailer chargebacks compared to previous quarters. A depreciation expense of $223,856 is also included in cost of sales, which lowered gross profit. We look forward to continued improvements in gross margins.
“Our corporate strategy has propelled strong revenue growth in 2023, and we expect to continue this trajectory in 2024. Our current commitments are now at $9.0M in annualized sales for 2024. However, we anticipate additional sales wins throughout the remainder of the year that should push this even higher.”
Operational Highlights
Financial Highlights
About BranchOut Food Inc.
BranchOut Food is an international food-tech company delivering truly great natural snacks and real superfood ingredients enabled by its licensed dehydration technology. The company’s GentleDry Technology is the next generation in dehydration technology, preserving up to 95% of the original nutrition of fresh fruits and vegetables. BranchOut’s technology is protected by more than 17 patents. BranchOut Food is proud to be a leading provider of high-quality dehydrated fruit and vegetable-based products and its commitment to quality and innovation sets it apart as a trusted brand and private label supplier. For more information about BranchOut Food Inc. and its products, please visit www.branchoutfood.com and follow us on LinkedIn and Twitter.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts of future events. Forward-looking statements may be identified using words such as "forecast," "intend," "seek," "target," "anticipate," "believe," "expect," "estimate", "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements with respect to the operations of BranchOut Food, Inc., (the Company) strategies, prospects and other aspects of the business of the Company are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Although it may voluntarily do so from time to time, the Company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
For more informationJeff RamsonPCG Advisory646-863-6893jramson@pcgadvisory.com
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