From GlobeNewswire: 2024-04-01 16:20:00

Stryve Foods, Inc. reported a 52.9% improvement in full-year adjusted EBITDA loss and a 31.7% increase in retail sales velocity driven by new brand packaging. The company’s 2024 guidance expects a net sales growth of 35% to 70%. With a focus on quality growth, Stryve is aiming to solidify its position in the healthy snacking industry.

In 2023, Stryve made strategic advancements with higher gross margins, reduced operating expenses, and narrowed losses. The company focused on quality core revenue streams, resulting in strengthened unit economics. As they move into 2024, Stryve plans to accelerate growth while maintaining financial and operational discipline.

For fiscal year 2024, Stryve forecasts net sales between $24 million to $30 million, expecting substantial gross margin improvement. By scaling up the volume, the company aims to reduce losses each quarter, with a potential breakeven point in the fourth quarter. Stryve has renewed its line of credit, extended bridge notes, and terminated its ATM equity facility to secure more favorable financing options.



Read more at GlobeNewswire:: Stryve Foods, Inc. Reports Full Year Fiscal 2023 Results