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VANCOUVER, British Columbia, March 31, 2022 (GLOBE NEWSWIRE) — ELSE NUTRITION HOLDINGS INC (BABY) (BABYF) (0YL.F) (“Else” or the “Company”) the Plant-Based baby, toddler and children nutrition companytoday announced results for its Fourth Quarter and Fiscal Year ended December 31, 2021. The financial statements and MD&A are available on SEDAR under the Company’s profile.
Fourth Quarter and Fiscal Year 2021 Financial Highlights
- Fiscal year 2021 revenues were $4.7M, a 219% increase versus $1.5M in Fiscal Year 2020, driven by the expansion of our toddler products across all channels and the introduction of the new Kids Complete Nutritional shake product line.
- 4Q21 revenues were $1.3M, an 8% increase versus $1.2M in 3Q21, driven by continued expansion into retail stores and steady online sales growth.
- Cash balance as of December 31, 2021 was $25.5M (including restricted cash and short-term bank deposit).
- The Company had no Loans liability as of December 31, 2021.
- Company has graduated to the Toronto Stock Exchange.
1Q2022 Outlook: Else Nutrition expects revenues in the First Quarter of 2022 to be in the range of $1.45M to $1.6M, representing a 15% to 25% sequential increase versus 4Q21. The robust preliminary results are due to the strong performance of our products in both online and retail channels.
4Q and FY2021 Business Highlights –
- Doubled sales on Else’s e-commerce store and on Amazon.com during 2021.
- Expanded US retail presence to more than 1,200 stores, and continue to increase retail sales velocity (reached 1.2 UPSPW at Sprouts). Several retailers already added the new Kids products to their range.
- Successfully listed on Walmart.com and Kroger-owned online platforms.
- Following the success on Amazon in the US, Else was invited by Amazon EU to launch a European unified account that will allow Else to sell its products on major Amazon European marketplaces including the UK, Germany, France, Italy, Spain, the Netherlands, and Sweden, representing a market with more than 300M people.
- Launched Kids Complete Nutritional shake (3+ years; in powder form) in online and retail channels. The product is available on elsenutrition.comAmazon.com, and iHerb, and soon will be available on Walmart.com, Kroger-owned online platforms, Sprouts Farmers Market, Rouses and Thrive Market.
- Completed the development of a new line of products – Super Cereals, for infants (6+ months) and Toddlers. These new products will be launched in April 2022 in the US.
- Continue the development of a Ready to Drink line of products.
- Launched an intensive HCP initiative in the US that includes a dedicated HCP website and a campaign to reach more than 80,000 pediatricians. This effort is led by Mr. Mike Glick, Else’ North America GM, a former Abbott Senior Director of Pediatric and Adult nutrition .
- Conducted an Independent Research Survey Demonstrating that Else’ Products Dramatically Improved Major …
Full story available on Benzinga.com
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