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Innovative Food Holdings, Inc. - IVFH STOCK NEWS

Welcome to our dedicated news page for Innovative Food Holdings (Ticker: IVFH), a resource for investors and traders seeking the latest updates and insights on Innovative Food Holdings.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Innovative Food Holdings's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Innovative Food Holdings's position in the market.

News
Innovative Food Holdings, Inc. Announces New Contract with Cheney Brothers
Rhea-AI Summary
Innovative Food Holdings, Inc. (IVFH) partners with Cheney Brothers, a $3 billion revenue-generating distributor, to expand their drop-ship platform, expecting orders to start in the second half of the year. The partnership aims to leverage IVFH's unique vendor network and Cheney Brothers' distribution capabilities to drive growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.84%
Tags
none
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News
Innovative Food Holdings, Inc. Reports Financial Results for Fourth Quarter and Fiscal Year 2023
Rhea-AI Summary
Innovative Food Holdings, Inc. (IVFH) reported financial results for Q4 and fiscal year 2023, showing revenue declines but improved gross margins and adjusted EBITDA. The company saw a net loss of $4.2 million in 2023 compared to $1.1 million in 2022, but achieved positive adjusted EBITDA of $2.5 million, marking a significant improvement. IVFH focused on cost-cutting measures, leading to reduced SG&A expenses and positive cash flow. The company's financial flexibility improved through debt refinancing and term extensions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.92%
Tags
earnings
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News
Innovative Food Holdings, Inc. to Hold Investor Call March 21
Rhea-AI Summary
Innovative Food Holdings, Inc. (IVFH) will host an investor call on March 21, 2024, to discuss its fourth fiscal quarter results for the quarter ended December 31, 2023. Investors can join via Zoom or phone for a Q&A session.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.14%
Tags
none
News
Innovative Food Holdings, Inc. Announces Sale Of Florida Building, Netting The Company $1.9 Million
Rhea-AI Summary
Innovative Food Holdings, Inc. (IVFH) completes the sale of its Bonita Springs building for $2.455 million, generating $1.9 million in cash proceeds. The company transitions its Florida team to remote positions, moves servers to Chicago, and relocates remaining office roles to a smaller leased space, saving $60,000 annually. CEO Bill Bennett aims to stabilize the company, pay off debt, and invest in profitable foodservice businesses, with plans to sell or lease the Pennsylvania warehouse for an additional $5-9 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.24%
Tags
none
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News
Innovative Food Holdings, Inc. Announces Restructuring of Home Gourmet E-Commerce Business, and Divestiture of Other Non-Core Businesses
Rhea-AI Summary
Innovative Food Holdings, Inc. (IVFH) announced the restructuring of its Home Gourmet e-commerce business and the completion of the sale of two entities. The company is also selling its entity Haley Food Group, Inc. IVFH is focusing on reducing expenditures on unprofitable businesses to drive growth in its profitable Professional Chefs business. The restructuring will result in a decrease of approximately $6 million in annualized revenue and an increase in annualized profit.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.5%
Tags
none
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News
Innovative Food Holdings, Inc. Announces Transition in Chief Financial Officer Role
Rhea-AI Summary
Innovative Food Holdings, Inc. (IVFH) announced the appointment of Gary Schubert as the new Chief Financial Officer, effective January 1, 2024. Schubert brings extensive experience from Walmart and Tyson Foods, with a focus on profitable strategies and financial acumen. The company expressed gratitude to the previous CFO, Richard Tang, for his contributions in bringing the company back to profitability post-COVID.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.72%
Tags
none
News
Innovative Food Holdings, Inc. Announces Progress Against Its Strategic Plan
Rhea-AI Summary
Innovative Food Holdings, Inc. (IVFH) announced key progress against its strategic plan, including the sale of its building in Bonita Springs, FL, listing of its e-commerce fulfillment center for sale or lease, exploration of strategic alternatives for the e-commerce business, sale of its Grow Brand Management consulting business, and the sale of its minority stake in Curdbox.com.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.46%
Tags
none
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News
Innovative Food Holdings, Inc. Reports Financial Results for Third Quarter of 2023
Rhea-AI Summary
Innovative Food Holdings, Inc. (IVFH) reported improved third-quarter financial results, with adjusted EBITDA increasing to $0.9 million, marking the fifth consecutive quarter of year-over-year improved profitability. Gross margin improved by 568 basis points to 28.2%, although revenue declined by 13.8% to $17.3 million. The company also announced a capital reallocation strategy.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
18.68%
Tags
earnings
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News
Innovative Food Holdings, Inc. To Hold Investor Call November 9
Rhea-AI Summary
Innovative Food Holdings, Inc. will host an investor call on November 9, 2023, to discuss the Company's third fiscal quarter results for the quarter ended September 30, 2023. The call will also provide additional details on the Company's future strategy.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.61%
Tags
none
News
Innovative Food Holdings, Inc. Reports Financial Results for Second Quarter of 2023
Rhea-AI Summary
Innovative Food Holdings, Inc. reported its financial results for the second quarter of 2023. The company's adjusted EBITDA improved by $1.2 million to $453,947, marking the first profitable second quarter since 2019. Second quarter revenue was down 8.2% year-over-year to $18.8 million. Gross margin improved 377 basis points to 25.4%, and SG&A declined by 271 basis points to 24.2%. The company generated $1.3 million in positive cash flow from operations, an improvement of $1.7 million compared to Q2 2022.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2%
Tags
earnings
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Innovative Food Holdings, Inc.

OTC:IVFH

IVFH Rankings

N/A Ranked by Market Cap
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IVFH Stock Data

47.88M
25.77M
27.14%
30.75%
Packaged Frozen Food Merchant Wholesalers
Wholesale Trade
Link
United States
Bonita Springs

About IVFH

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