Welcome to our dedicated page for Flow Beverage news (Ticker: FLWBF), a resource for investors and traders seeking the latest updates and insights on Flow Beverage stock.
Flow Beverage Corp. (FLWBF), associated with the Flow premium water brand, has generated a series of significant news events that reflect both its beverage operations and its evolving financial and legal situation. Company press releases highlight Flow’s positioning as a B-Corp Certified premium water and wellness beverage brand founded in 2014, while also detailing developments in financing, governance, and restructuring.
News coverage includes announcements of secured business purpose loans and a secured convertible loan from NFS Leasing Canada Ltd. and RI Flow LLC, which Flow describes as senior secured lenders and affiliates of an investor group holding more than 10% of its voting rights on a partially diluted basis. These updates explain how the company has sought to address liquidity challenges and invest in working capital, referencing both the Flow brand and the Planet A co-packing business.
Investors following FLWBF will also find news about leadership changes, such as the appointment of a new Chief Financial Officer and the departure of prior executives, as well as board resignations. These governance updates are presented alongside financial results that discuss Flow brand net revenue, consolidated net revenue, gross margin and Adjusted EBITDA, and describe factors such as co-pack contracts and production capacity expansions.
More recently, Flow’s news releases have focused on restructuring and insolvency-related matters. The company announced receipt of demand letters and notices of intention to enforce security from its lenders, followed by a support agreement that contemplates transitioning ownership of its business to those lenders through a structured foreclosure. Subsequent news disclosed a receivership order appointing Richter Inc. as receiver over the business and assets of the company and its subsidiaries, a stay of proceedings, and a planned wind-down of remaining assets and liabilities under the Bankruptcy and Insolvency Act (Canada). The Toronto Stock Exchange’s review of Flow’s listing eligibility and the suspension of trading in its subordinate voting shares are also key topics in recent updates.
This news page allows readers to review these developments in sequence, from operational and financing milestones to governance changes and court-supervised restructuring steps, providing context for the history and current status of Flow Beverage Corp. and the Flow brand.
Flow Beverage Corp. has announced its participation as the official water partner for the TCS New York City Marathon on November 6th. The company will supply over 289,000 units of its alkaline spring water to runners and activate on-site hydration stations and cheer zones. This event aims to boost brand awareness and promote sustainable choices, as Flow's packaging is made from renewable materials and is recyclable. CEO Nicholas Reichenbach emphasized the importance of supporting healthy lifestyles through this partnership.
Flow Beverage Corp. reported significant financial results for Q3 2022, with net revenue increasing by 36% year-over-year to $12.7 million and a 79% rise from Q2 2022. The gross margin improved to 28%, a 6% increase from Q3 2021. The EBITDA Loss narrowed to $7.6 million, a 42% improvement from the previous year. The company revised its revenue growth target for the second half of FY 2022 to 35%-45% compared to the prior year's second half. Flow continues to focus on sustainable growth through strategic distribution wins and product launches.
Flow Beverage Corp. (OTCQX: FLWBF) will release its financial results for the three and nine months ending July 31, 2022 on September 15, 2022, before market opening. CEO Nicholas Reichenbach and CFO Trent MacDonald will discuss the results and provide a business outlook during a conference call at 8:30 a.m. ET. Flow is known for its sustainable, premium alkaline spring water and has been recognized as one of the fastest-growing companies in North America.
Flow Beverage Corp. (OTCQX:FLWBF) has partnered with Primo Water Corporation to distribute Flow Alkaline Spring Water across Primo’s network in the U.S., starting August 2022. This agreement allows Flow to reach over 1.8 million subscription customers and aligns with Flow's mission to promote sustainability. Primo, a water solutions leader, generated approximately $2.1 billion in annual revenue and focuses on reducing plastic waste. The partnership aims to expand Flow's consumer access and enhance its market presence in the health-oriented beverage sector.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) announced that Chief Marketing Officer Krissie Millan will resign effective September 2, 2022. Millan has played a vital role in building the Flow brand and driving growth initiatives since joining in 2018. In a statement, CEO Nicholas Reichenbach praised her contributions during a pivotal period, indicating Flow is poised for continued growth. Flow is known for its sustainably sourced naturally alkaline spring water and aims to reduce environmental impacts through its products.
Flow Beverage Corp. (OTCQX:FLWBF) has partnered with Blade Urban Air Mobility to become the exclusive still water provider in Blade lounges across North America. This agreement aims to enhance Flow's distribution channels, aligning with its mission of offering premium, sustainable water products. Blade operates several lounges, particularly in New York, and plans further expansions. Flow, a rapidly growing premium water company, emphasizes sustainability with its alkaline spring water, packaged in eco-friendly materials.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has partnered with Tennis Canada as the official water supplier for the National Bank Open, serving at Sobeys Stadium in Toronto and Stade IGA in Montreal. This partnership will feature extensive media advertising and product placement during matches, reaching over 350,000 onsite fans and 9 million viewers worldwide. Flow, a sustainable B Corporation, aims to boost brand awareness and align with the NBO's commitment to sustainability, targeting zero waste and carbon neutrality by 2030.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has successfully repaid $7,453,440 in unsecured debentures and accrued interest, which were due on July 31, 2022. The payment was made using cash reserves, enhancing Flow's financial flexibility. CEO Nicholas Reichenbach expressed gratitude to investors for their support during this critical phase. Established in 2014, Flow is a rapidly growing premium water company focused on environmentally sustainable practices, offering a range of health-oriented beverages.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has partnered with Ohi Inc. to enhance its e-commerce capabilities in the U.S. The collaboration will provide two-hour, same-day, and next-day delivery services in major cities such as New York, Los Angeles, San Francisco, and Chicago starting July 2022. This initiative aims to improve customer experience and streamline distribution through Ohi's micro-warehousing network. Flow, known for its sustainable packaging and premium alkaline spring water, continues to invest in scaling its business while promoting sustainability.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) appointed Trent MacDonald as Chief Financial Officer. MacDonald has extensive experience in retail operations and operational efficiency in high-growth settings. Former CFO Devan Pennell transitions to Chief Strategy Officer. The company's focus remains on enhancing profitability and operational efficiencies to achieve growth. Flow aims to reduce environmental impact through sustainable packaging and offers a range of health-oriented beverage products, available at over 35,600 stores across North America.
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