Flow Beverage Stock Price, News & Analysis

Flow Beverage Corp. announces the sale of its Verona, Virginia production facility to BioSteel Sports Nutrition for US$19.5 million. This strategic move aims to enhance the profitability of the Flow brand and simplify its operations by reducing operating expenses. Flow will maintain ownership of its 144-acre spring water source and has secured a co-manufacturing agreement with BioSteel, ensuring continuous production of Flow's branded water. The transaction is expected to improve Flow's operating cash flow and strengthen its balance sheet, facilitating continued revenue growth in the U.S.

Flow Beverage Corp. announced the sale of its Verona, Virginia production facility to BioSteel Sports Nutrition for US$19.5 million. This sale enables Flow to focus on the profitable growth of its brand while simplifying operations and improving its balance sheet.

Flow retains ownership of the water source and enters into a co-manufacturing agreement to ensure production continuity. BioSteel's acquisition supports its growth strategy and vertical integration in the U.S. market, ultimately enhancing its operational efficiency.

Flow Beverage Corp (OTCQX: FLWBF) announced the resignation of Ann Tracy from its Board of Directors effective November 2, 2022. Tracy served on the Audit Committee and brought significant ESG expertise, contributing to the company being recognized as a 'Best for the World' B Corp. The company aims to continue her legacy, striving for 100% renewable-resource-based packaging by 2030 and achieving carbon negativity by 2025, as confirmed by CEO Nicholas Reichenbach. Tracy's departure is attributed to her other career obligations related to ESG.

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.