From GlobeNewswire: 2024-05-17 12:49:00

Better Choice Company Inc. reports impressive first quarter results with $7.9 million in net revenue and a 28% improvement in EPS to $(3.60) per share. The company saw a 27% growth in Adjusted EBITDA to $(1.4) million and a 299 basis point expansion in Adjusted EBITDA Margin to (18%) year over year.

During the quarter, Better Choice achieved 75% of its sales volume from its Halo Holistic® product line. The Company launched Halo Elevate on Chewy, earning a 4.6 star rating among consumers. CEO Kent Cunningham highlights a digital first strategy and marketing investment shifts to boost brand awareness and consumer satisfaction. Better Choice also improved inventory levels by 50% in 15 months.

Adjusted EBITDA is a key non-GAAP measure used by Better Choice to evaluate performance. It encompasses net loss, interest expense, depreciation, share-based compensation, impairment of goodwill, and other factors. Adjusted EBITDA improved from $(1.9) million in 2023 to $(1.4) million in 2024. The company focuses on driving profitable growth and efficient operations to sustain positive trends.

Better Choice Company Inc. is a pet health and wellness company offering products under the Halo brand for dogs and cats. Its portfolio includes foods, treats, toppers, dental products, chews, and supplements. With a focus on natural, quality ingredients, Better Choice caters to the pet humanization and wellness trends. The company aims to help pets live healthier, happier lives.



Read more at GlobeNewswire:: Better Choice Company Announces First Quarter 2024 Results