Welcome to our dedicated page for EDIBLE GARDEN news (Ticker: EDBLW), a resource for investors and traders seeking the latest updates and insights on EDIBLE GARDEN stock.
Edible Garden AG Incorporated (Nasdaq: EDBL, EDBLW) generates a steady flow of news around its controlled environment agriculture (CEA) platform, branded food products, and capital markets activity. This page aggregates EDBLW-related news so readers can follow how the company’s organic produce, condiments, and sports nutrition brands evolve across retail and e-commerce channels.
Company announcements frequently highlight distribution expansions for its CEA-grown herbs, hydroponic basil, and value-added brands. Recent releases describe new placements for Pickle Party fermented pickles and krauts and Pulp fermented sauces at regional supermarket operators, as well as expanded herb programs with grocers in the Mid-Atlantic and major metropolitan areas. These updates illustrate how Edible Garden works with retailers to broaden access to clean-label, better-for-you products.
News coverage also tracks the growth of Kick. Sports Nutrition, Edible Garden’s performance-focused nutrition line. The company reports new availability for Kick. on major digital platforms such as Walmart.com and Target.com, reflecting its stated omnichannel strategy to reach athletes and active consumers through widely used online marketplaces.
In addition to commercial developments, Edible Garden issues releases on financial and corporate milestones, including preliminary sales performance during key holiday periods, participation in state-level tax programs that monetize net operating losses, and changes to its Board of Directors and senior leadership team. These items provide context on the company’s execution, governance, and balance sheet initiatives.
By reviewing the EDBLW news feed, investors and observers can see how Edible Garden’s CEA operations, branded product portfolio, and financing decisions interact over time. Bookmark this page to access a centralized view of press releases and market-moving updates related to Edible Garden AG Incorporated and its listed warrants.
Edible Garden reported a 27.6% year-over-year revenue growth for Q1 2024, totaling $3.1 million. This growth is attributed to high customer demand and product line expansion.
Notably, the company’s gross profit surged by 195.8%, driven by a strategic pivot away from third-party growers, resulting in a 171 basis point increase in gross margin. Approximately 95% of Edible Garden’s fresh product line is now produced at company-owned facilities.
Despite these positive trends, the company experienced a net loss of $4.0 million for Q1 2024, compared to a $2.9 million loss in Q1 2023, due to higher SG&A expenses. Edible Garden aims to boost margins and reduce SG&A costs in future quarters.
The company also secured a significant three-year contract with a leading U.S. food retailer, expected to generate $18-$20 million in revenue. Additional distribution partnerships and product line expansions are also underway.
A conference call will be held today at 8:00 AM ET to discuss these results and corporate progress.
Edible Garden AG Incorporated, a leader in controlled environment agriculture, will host a conference call to discuss financial results for the quarter ended March 31, 2024, and provide a business update. The call will be on May 15, 2024, at 8:00 AM Eastern Time. The Company encourages U.S. callers to dial +1 888-506-0062 and international callers to dial +1 973-528-0011, with access code 926030. A webcast will be available at https://www.webcaster4.com/Webcast/Page/2914/50592 along with a replay on the company's website.
Edible Garden AG Incorporated, a leader in controlled environment agriculture, announced a product development agreement with Hermann Pickle Company to develop fermented plant-based products and non-GMO consumer packaged foods. The partnership aims to leverage both companies' strengths in production, marketing, and distribution to meet the increasing consumer demand for healthier and sustainable food options. This collaboration reflects Edible Garden's commitment to expanding its product offerings and Hermann Pickles' legacy as a trusted provider of kosher pickles and sauerkraut.
Edible Garden AG Incorporated has initiated shipping of 'Garden Starters' to Meijer stores, marking the start of the spring planting season. The innovative product offers potted herbs and basil bowls that cater to home gardening enthusiasts. The company aims to meet the rising demand for sustainably grown herbs and produce by managing the entire production, packaging, and distribution process from their Edible Garden Heartland facility in Grand Rapids, Michigan. By strategically utilizing backhauls, they are focused on reducing CO2 emissions, benefiting both the company and the environment. The introduction of 'Garden Starters' is seen as a lucrative sales opportunity for the company and its retail partners, with plans for nationwide expansion.
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