GURU Organic Energy reduces net loss, grows revenue, expands market share, and launches new product.

From GlobeNewswire: 2024-09-12 07:00:00

GURU Organic Energy Corp saw a 18.3% reduction in net loss to $6.8 million in the first nine months of 2024, showing a strong commitment to cost reduction. With $37.7 million in cash and short-term investments, GURU is well-positioned for profitability and growth opportunities. Revenue grew by 6.9% to $23.1 million, with gross profit up 11.6% to 54.8%.

GURU expanded its market share in Quebec by over one percentage point to 18.3% in units over the last nine months, solidifying its presence. The company is set to launch its Zero Sugar line in the US, featuring three flavors, targeting the sugar-free energy drink market. This marks a key step in expanding GURU’s reach in the US.

GURU delivered strong financial results in the third quarter of 2024, with net revenue at $7.9 million. Sales in Canada decreased due to lower shipments, but US sales grew by 10.3% as online sales continued to rise. Gross margin improved to 55.4% in Q3, highlighting operational efficiencies and pricing dynamics.

The Company’s strategic initiatives include reinforcing the board of directors with new independent members and appointing a new Vice President of Marketing. GURU has also renewed its share buyback program and is offering special promotions to help consumers combat inflation. Recognized as a Great Place to Work, GURU is focused on driving growth and innovation.



Read more at GlobeNewswire:: GURU Organic Energy Announces Third Quarter 2024 Financial