Better Choice Co Inc. Stock Price, News & Analysis

Better Choice Company (NYSE: BTTR) announced a significant 15.6% growth in point-of-sales for its new Halo Elevate product line at Petco over the last 12 weeks, outperforming Petco's 5% year-over-year sales growth in Q4 2022. Additionally, Halo Elevate achieved 9.3% growth in the total Pet Specialty channel. The company attributes this success to its high-quality, natural ingredients and strong partnerships in the pet specialty market. Established over 30 years ago, Halo is committed to providing natural pet food without artificial additives, aiming to enhance pets' health.

Better Choice Company Inc. (NYSE American: BTTR) reported a 19% increase in net sales for 2022, totaling $54.7 million. The fourth quarter saw net sales of $9.3 million. Significant growth was noted in the International channel, which experienced 48% year-over-year growth, while Brick & Mortar sales surged 72%. However, E-commerce sales decreased by 3% and Direct to Consumer sales declined 30%. The company reported a gross margin of 28% for the year, which adjusts to 31% when excluding inventory rationalization impacts. The net loss for the year was $(39.3 million), highlighting continuing operational challenges.

Better Choice Company (NYSE: BTTR) announced that its pet food brand, Halo, was voted the 2022 Consumer’s Favorite Imported Cat Brand by the China Pet Industry White Paper. This recognition was based on a survey of over 30,000 pet owners in China, who praised Halo for its responsibly sourced ingredients and taste. Established over 30 years ago, Halo is committed to providing natural and high-quality pet food products. This award reaffirms Halo's position as a leading US pet food brand in China, reflecting its ongoing mission to deliver nutritious pet food.

Better Choice Company (NYSE: BTTR), a pet health and wellness firm, announced that it has received interest in its Halo brand pet products and is initiating a strategic alternatives review. The company is considering various options including a sale, merger, asset divestiture, or entering new revenue sectors. Interim CEO Lionel Conacher emphasized that the objective is to maximize shareholder value through this evaluation process. However, there is no guarantee that this review will lead to any transactions, and the company will provide updates only if specific deals are made.

Better Choice Company Inc. (AMEX: BTTR) announced its plans to release fourth quarter and full year 2022 financial results on Tuesday, March 28, 2023. As a pet health and wellness company, Better Choice offers a diverse range of products for dogs and cats, including foods, treats, and supplements under the Halo brand. The company emphasizes high-quality, natural ingredients and science-based nutrition. Better Choice is poised to benefit from trends in pet humanization and the increasing consumer focus on health and wellness.

Better Choice Company (NYSE American: BTTR) announced a partnership with Pet Supermarket to sell its Halo Brand pet food in over 75 retail locations starting March 2, 2023. This move aims to expand the availability of Halo's super-premium pet food, which includes the popular Halo Elevate line. With this partnership, Halo products will now be featured in more than 1,500 retail stores across the United States. The CEO of Halo, Lionel Conacher, expressed confidence that this collaboration will positively impact pet health and wellness.

Better Choice Company (NYSE: BTTR) announced a workforce reduction of approximately 25%, aiming to save an estimated $2.2 million annually. This decision includes the elimination of the COO role, which is expected to significantly decrease the company’s operational costs in 2023 and beyond. Interim CEO Lionel Conacher noted that while the long-term prospects remain strong, current market conditions are challenging. Further financial details will be disclosed during the Q4 and full year 2022 results announcement.

Better Choice Company reported Q3 2022 net sales of $11.9 million, a decrease from $13.2 million in Q3 2021. Year-to-date net sales reached $45.4 million, a 30% increase year-over-year. Gross profit margin improved to 35% in Q3 and 30% year-to-date. The company also extended its revolving credit facility to $13.5 million, removing the going concern language from its 10-Q. However, losses from operations reached $6.4 million in Q3 and $14.6 million year-to-date, signaling ongoing challenges despite growth in international sales.

Better Choice Company (NYSE: BTTR) announced a conference call and webcast scheduled for November 10, 2022, at 8:30 a.m. ET to discuss its third-quarter 2022 financial results and provide a business update. Interested individuals can join via dial-in or webcast. The company specializes in pet health and wellness products under the Halo brand, focusing on natural nutrition and quality ingredients. They are positioned to benefit from the growing trend of pet humanization and the increasing consumer focus on health and wellness for pets.