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good natured Products Inc. (GDNPF) announced Q3 2022 results, showcasing a 45% year-over-year revenue growth to $26.2 million. The gross margin reached 27%, aligning with company targets. YTD 2022 revenues surged 103% to $77.7 million. The variable gross profit for Q3 rose 75% to $9.1 million, reflecting a variable gross margin of 34%. Adjusted EBITDA was $0.8 million. Despite a $2.1 million net loss, the company improved net working capital to $19.6 million compared to previous year.
good natured Products Inc. (GDNPF) has been recognized as one of the North America Technology Fast 500™ for the second consecutive year, reporting remarkable revenue growth of 1098% from 2018 to 2021. This ranking highlights the company’s position as a leading player in the plant-based products sector. Additionally, it has received its second Clean Technology award under the Technology Fast 50™ for top clean innovators in Canada. CEO Paul Antoniadis expressed gratitude for the recognition, emphasizing the company's commitment to eco-friendly products that reduce environmental impact.
good natured Products Inc. announced the completion of a secured revolving credit facility with Wells Fargo Bank, totaling up to USD $55 million. This facility includes a USD $30 million asset-based revolving credit facility and an uncommitted USD $25 million revolving line. The initial draw is aimed at retiring CAD $13.7 million of debt with National Bank of Canada. Additionally, a CAD $6.6 million mortgage refinancing with BDC was secured, enhancing the company’s financial flexibility to support growth initiatives.