Innovative Food Holdings, Inc. Reports Financial Results for Second Quarter of 2025
Innovative Food Holdings (OTCQB: IVFH), a national gourmet specialty foods seller, reported mixed Q2 2025 results with revenue increasing 26.9% to $21.1 million. The company achieved GAAP net income from continuing operations of $59,000, compared to a loss of $60,000 in Q2 2024.
Key metrics include non-GAAP adjusted EBITDA of $228,000, down from $859,000 in Q2 2024, primarily impacted by the cheese conversion business. Excluding this business, which IVFH plans to exit, core revenue grew 13.5%, mainly driven by acquisitions. The airline catering segment showed strong performance with 26.1% growth, while Digital Channels declined 4.9%.
Post-quarter, IVFH announced strategic changes including exiting the cheese conversion business and plans to sell its Pennsylvania warehouse, relocating airline distribution operations to Broadview, IL.
Innovative Food Holdings (OTCQB: IVFH), venditore nazionale di specialità gastronomiche, ha comunicato risultati contrastanti per il secondo trimestre 2025 con ricavi in aumento del 26,9% a $21.1 milioni. La società ha registrato un utile netto GAAP dalle operazioni in corso di $59.000, rispetto a una perdita di $60.000 nel Q2 2024.
I principali indicatori includono un EBITDA rettificato non-GAAP di $228.000, in calo rispetto a $859.000 nel Q2 2024, impattato principalmente dall'attività di conversione formaggi. Escludendo questa attività, che IVFH intende dismettere, il core revenue è cresciuto del 13,5%, trainato soprattutto dalle acquisizioni. Il segmento di catering aereo ha mostrato una solida performance con una crescita del 26,1%, mentre i Canali Digitali sono diminuiti del 4,9%.
Successivamente alla chiusura del trimestre, IVFH ha annunciato cambiamenti strategici, tra cui la uscita dall'attività di conversione formaggi e i piani per vendere il suo magazzino in Pennsylvania, trasferendo le operazioni di distribuzione per le compagnie aeree a Broadview, IL.
Innovative Food Holdings (OTCQB: IVFH), vendedor nacional de alimentos gourmet especializados, informó resultados mixtos en el segundo trimestre de 2025 con ingresos que aumentaron 26.9% hasta $21.1 millones. La compañía registró un resultado neto GAAP de las operaciones continuas de $59,000, frente a una pérdida de $60,000 en el Q2 2024.
Los indicadores clave incluyen un EBITDA ajustado non-GAAP de $228,000, por debajo de $859,000 en el Q2 2024, afectado principalmente por el negocio de conversión de quesos. Excluyendo ese negocio, que IVFH planea cesar, el core revenue creció 13.5%, impulsado principalmente por adquisiciones. El segmento de catering aéreo mostró un sólido desempeño con un crecimiento del 26.1%, mientras que los Canales Digitales disminuyeron 4.9%.
Tras el cierre del trimestre, IVFH anunció cambios estratégicos, entre ellos la salida del negocio de conversión de quesos y los planes para vender su almacén en Pensilvania, trasladando las operaciones de distribución para aerolíneas a Broadview, IL.
Innovative Food Holdings (OTCQB: IVFH)는 전국 규모의 고급 식품 전문 유통업체로 2025년 2분기 실적이 혼조를 보였으며 매출이 26.9% 증가해 $21.1 million을 기록했습니다. 회사는 계속영업으로 인한 GAAP 순이익 $59,000을 달성했으며, 이는 2024년 2분기의 $60,000 손실에서 개선된 수치입니다.
핵심 지표로는 non-GAAP 조정 EBITDA $228,000를 기록했으나, 이는 2024년 2분기의 $859,000에서 감소했으며 주로 치즈 전환 사업의 영향입니다. IVFH가 철수할 계획인 해당 사업을 제외하면 핵심 매출(core revenue)은 13.5% 성장했으며 주로 인수에 의해 견인됐습니다. 항공기 케이터링 부문은 26.1% 성장으로 강한 실적을 보였고, 디지털 채널(Digital Channels)은 4.9% 감소했습니다.
분기 종료 후 IVFH는 전략적 변경을 발표했으며, 그 중에는 치즈 전환 사업에서의 철수와 펜실베이니아 창고 매각 계획이 포함되고, 항공사 대상 유통 운영을 일리노이주 브로드뷰(Broadview, IL)로 이전할 계획입니다.
Innovative Food Holdings (OTCQB: IVFH), distributeur national de produits gastronomiques spécialisés, a publié des résultats mitigés pour le deuxième trimestre 2025 avec un chiffre d'affaires en hausse de 26,9% à $21.1 millions. La société a enregistré un résultat net GAAP des activités poursuivies de $59,000, contre une perte de $60,000 au T2 2024.
Les indicateurs clés incluent un EBITDA ajusté non-GAAP de $228,000, en baisse par rapport à $859,000 au T2 2024, principalement impacté par l'activité de conversion de fromage. À l'exclusion de cette activité, que IVFH prévoit de céder, le chiffre d'affaires core a augmenté de 13,5%, principalement porté par des acquisitions. Le segment de la restauration aérienne a affiché une solide performance avec une croissance de 26,1%, tandis que les canaux numériques ont diminué de 4,9%.
Après la clôture du trimestre, IVFH a annoncé des changements stratégiques, notamment la sortie du secteur de la conversion de fromage et le projet de vendre son entrepôt en Pennsylvanie, en transférant ses opérations de distribution pour les compagnies aériennes à Broadview, IL.
Innovative Food Holdings (OTCQB: IVFH), ein nationaler Anbieter von Gourmet-Spezialitäten, meldete gemischte Ergebnisse für das zweite Quartal 2025, wobei die Umsätze um 26,9% auf $21.1 Millionen stiegen. Das Unternehmen erzielte einen GAAP-Nettogewinn aus fortgeführten Geschäftsbereichen von $59.000, gegenüber einem Verlust von $60.000 im Q2 2024.
Wesentliche Kennzahlen umfassen ein non-GAAP bereinigtes EBITDA von $228.000, gegenüber $859.000 im Q2 2024, hauptsächlich belastet durch das Käse-Conversion-Geschäft. Ohne dieses Geschäft, das IVFH veräußern will, wuchsen die Kernumsätze um 13,5%, vor allem durch Übernahmen. Das Airline-Catering-Segment zeigte mit 26,1% Wachstum eine starke Entwicklung, während die Digital Channels um 4,9% zurückgingen.
Nach Quartalsende kündigte IVFH strategische Änderungen an, darunter die Abgabe des Käse-Conversion-Geschäfts und die Absicht, sein Lager in Pennsylvania zu verkaufen, sowie die Verlagerung der Vertriebsaktivitäten für Fluggesellschaften nach Broadview, IL.
- None.
- Non-GAAP adjusted EBITDA declined by $631,000 to $228,000
- Overall GAAP gross margin decreased 294 basis points to 21.0%
- Digital Channels revenue declined 4.9%
- Core business revenue (excluding acquisitions) remained flat
- Continued softness in largest customer due to increased competition
Key second quarter reported data points:
- Revenue of
$21.1 million , +26.9% vs. Q2 2024 - GAAP net income (loss) from continuing operations* of
$59 thousand vs. ($60) thousand in Q2 2024 - GAAP net income (loss) from continuing operations* per fully diluted share of
$0.00 1 vs. ($0.00 1) in Q2 2024 - Non-GAAP adjusted EBITDA of
$228 thousand vs.$859 thousand in Q2 2024, with declines driven by the cheese conversion business - Subsequent Events: Announced exit of cheese conversion business, and entered into agreement to sell Pennsylvania warehouse with intent to relocate national airline distribution business to Broadview, IL location*
*Continuing operations shown here do not yet incorporate the results of the above Subsequent Events
BROADVIEW, Ill., Aug. 13, 2025 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional chefs, today announced financial results for the second quarter ended June 30, 2025.
Bill Bennett, Chief Executive Officer of IVFH, remarked, “In Q2 2025, revenue increased
“The remaining core business revenue, excluding our acquisitions, was roughly flat year-over-year,” Mr. Bennett continued. “Within that core business, our airline catering business grew
Mr. Bennett also remarked, “GAAP gross margin for Q2 was
Mr. Bennett continued, “GAAP gross margin for Q2 was
“GAAP net income from continuing operations improved by approximately
Conference Call
The Company’s management will hold an investor call on August 13, 2025 at 4:00 PM Eastern Time to discuss the Company's results for the second quarter ended June 30, 2025. At the end of the meeting, the Company will host a question-and-answer session with investors. All interested participants may attend the call on the web or by phone. The Company encourages those who wish to ask questions to join the call virtually through Zoom, rather than on the phone, as Zoom’s “raise hand” feature makes it easier for management to identify questioners. Details for the meeting are as follows:
Join Zoom Meeting: https://us02web.zoom.us/j/88130956199?pwd=Txoke4cMYgis7QqVl5PEjGjraRezoc.1
Meeting ID: 881 3095 6199
Passcode: 987526
One tap mobile +17193594580, 88130956199# US
About Innovative Food Holdings, Inc.
At IVFH, we help make meals special. We provide access to foods that are hard to find, have a compelling story, or are on the forefront of food trends. Our gourmet foods marketplace connects the world’s best artisan food makers with top professional chefs nationwide. We curate the assortment, experience, and tech enabled tools that help our professional chefs create unforgettable experiences for their guests. Additional information is available at www.ivfh.com.
Forward-Looking Statements
This release contains certain forward-looking statements and information relating to the Company that are based on the current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, the Company. Such statements, including those related to the Company’s growth plans, reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein, which include words such as “should,” “could,” “will,” “anticipate,” “believe,” “intend,” “plan,” “might,” “potentially” “targeting” or “expect”, or similar expressions. Additional factors that could also cause actual results to differ materially relate to current conditions and expected future developments, international crises, environmental and economic issues and other risk factors described in the Company’s public filings. As a result, readers are cautioned not to place undue reliance on these forward-looking statements and should understand that these statements are not guarantees of performance or results and that there are a number of risks, uncertainties and other important factors, many of which are beyond the Company’s control, that could cause the Company’s actual results to differ materially from those expressed in these statements, including, among others: economic factors affecting consumer confidence and discretionary spending; cost inflation/deflation and commodity volatility; competition; reliance on third party suppliers and interruption of product supply or increases in product costs; and changes in the Company’s relationships with vendors and customers. The Company does not intend to update these forward-looking statements.
For a detailed discussion of these risks, uncertainties and other factors that could cause the Company’s actual results to differ materially from those anticipated or expressed in any forward-looking statements, see the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the Securities and Exchange Commission (“SEC”). Additional risks and uncertainties are discussed from time to time in current, quarterly and annual reports filed by the Company with the SEC, which are available on the SEC’s website at https://www.sec.gov/.
Investor and Media contact:
Gary Schubert
Chief Financial Officer Innovative Food Holdings, inc. investorrelations@ivfh.com
| (As Reported) Innovative Food Holdings, Inc. Consolidated Balance Sheets | ||||||||
| June 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| (unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 1,553,555 | $ | 2,330,880 | ||||
| Accounts receivable, net | 6,916,597 | 9,039,232 | ||||||
| Inventory, net | 5,901,009 | 6,290,488 | ||||||
| Other current assets | 338,237 | 238,526 | ||||||
| Assets held for sale | 5,941,933 | 5,941,933 | ||||||
| Current assets - discontinued operations | - | 49,315 | ||||||
| Total current assets | 20,651,331 | 23,890,374 | ||||||
| Property and equipment, net | 1,678,212 | 1,584,878 | ||||||
| Right of use assets - operating leases, net | 581,504 | 705,476 | ||||||
| Right of use assets - finance leases, net | 464,507 | 524,273 | ||||||
| Amortizable intangible assets, net | 381,216 | 424,372 | ||||||
| Tradenames and other unamortizable intangible assets | 217,000 | 217,000 | ||||||
| Total assets | $ | 23,973,770 | $ | 27,346,373 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued liabilities | $ | 4,187,591 | $ | 6,653,622 | ||||
| Accrued separation costs - related parties, current portion | 225,559 | 334,532 | ||||||
| Accrued interest | 83,207 | 91,347 | ||||||
| Deferred revenue | 345,800 | 349,600 | ||||||
| Stock appreciation rights liability | 1,125,887 | 1,353,150 | ||||||
| Notes payable, current portion | 197,347 | 190,052 | ||||||
| Lease liability - operating leases, current | 242,975 | 239,660 | ||||||
| Lease liability - finance leases, current | 84,786 | 147,797 | ||||||
| Contingent liability, current | 54,430 | 54,430 | ||||||
| Total current liabilities | 6,547,582 | 9,414,190 | ||||||
| Note payable, net of discount | 8,599,293 | 8,692,674 | ||||||
| Accrued separation costs - related parties, non-current | 400,000 | 457,692 | ||||||
| Lease liability - operating leases, non-current | 344,843 | 467,569 | ||||||
| Lease liability - finance leases, non-current | 76,919 | 139,591 | ||||||
| Total liabilities | 15,968,637 | 19,171,716 | ||||||
| Commitments & Contingencies (see note 18) | ||||||||
| Stockholders’ equity | ||||||||
| Common stock: | 5,717 | 5,598 | ||||||
| Common stock to be issued; 433,687 and 738,032 shares at June 30, 2025 and December 31, 2024, respectively | 42 | 74 | ||||||
| Additional paid-in capital | 45,722,436 | 45,520,121 | ||||||
| Treasury stock: 2,644,297 shares outstanding at June 30, 2025 and December 31, 2024 | (1,141,372 | ) | (1,141,372 | ) | ||||
| Accumulated deficit | (36,581,690 | ) | (36,209,764 | ) | ||||
| Total stockholders’ equity | 8,005,133 | 8,174,657 | ||||||
| Total liabilities and stockholders’ equity | $ | 23,973,770 | $ | 27,346,373 | ||||
| (As Reported) Innovative Food Holdings, Inc. Consolidated Statements of Operations (unaudited) | ||||||||||||||||
| For the Three | For the Three | For the Six | For the Six | |||||||||||||
| Months Ended | Months Ended | Months Ended | Months Ended | |||||||||||||
| June 30, | June 30, | June 30, | June 30, | |||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue | $ | 21,103,134 | $ | 16,624,289 | $ | 40,651,700 | $ | 32,142,441 | ||||||||
| Cost of goods sold | 16,669,281 | 12,642,401 | 31,732,040 | 24,355,620 | ||||||||||||
| Gross margin | 4,433,853 | 3,981,888 | 8,919,660 | 7,786,821 | ||||||||||||
| Selling, general and administrative expenses | 4,189,316 | 3,834,301 | 8,898,293 | 7,813,140 | ||||||||||||
| Total operating expenses | 4,189,316 | 3,834,301 | 8,898,293 | 7,813,140 | ||||||||||||
| Operating income (loss) | 244,537 | 147,587 | 21,367 | (26,319 | ) | |||||||||||
| Other income (expense): | ||||||||||||||||
| Interest expense, net | (187,927 | ) | (209,487 | ) | (397,093 | ) | (424,937 | ) | ||||||||
| Gain on sale of assets | - | - | - | 1,807,516 | ||||||||||||
| Gain on sale of subsidiary | - | - | - | 21,126 | ||||||||||||
| Other leasing income | 1,900 | 1,900 | 3,800 | 3,800 | ||||||||||||
| Total other income (expense) | (186,027 | ) | (207,587 | ) | (393,293 | ) | 1,407,505 | |||||||||
| Net income (loss) before taxes | 58,510 | (60,000 | ) | (371,926 | ) | 1,381,186 | ||||||||||
| Income tax expense | - | - | - | - | ||||||||||||
| Net income (loss) from continuing operations | $ | 58,510 | $ | (60,000 | ) | $ | (371,926 | ) | $ | 1,381,186 | ||||||
| Net (loss) from discontinued operations | $ | - | $ | (43,324 | ) | $ | - | $ | (58,636 | ) | ||||||
| Consolidated net income (loss) | $ | 58,510 | $ | (103,324 | ) | $ | (371,926 | ) | $ | 1,322,550 | ||||||
| Net income (loss) per share from continuing operations - basic | $ | 0.00 | $ | (0.001 | ) | $ | (0.01 | ) | $ | 0.028 | ||||||
| Net income (loss) per share from continuing operations - diluted | $ | 0.00 | $ | (0.001 | ) | $ | (0.01 | ) | $ | 0.027 | ||||||
| Net (loss) per share from discontinued operations - basic | $ | - | $ | (0.00 | ) | $ | - | $ | (0.00 | ) | ||||||
| Net (loss) per share from discontinued operations - diluted | $ | - | $ | (0.00 | ) | $ | - | $ | (0.00 | ) | ||||||
| Weighted average shares outstanding - basic | 54,785,684 | 49,702,026 | 54,376,253 | 49,708,112 | ||||||||||||
| Weighted average shares outstanding – diluted | 54,785,684 | 51,117,570 | 54,376,253 | 51,123,656 | ||||||||||||
| (As Reported) Innovative Food Holdings, Inc. Consolidated Statements of Cash Flows (unaudited) | ||||||||
| For the Six | For the Six | |||||||
| Months Ended | Months Ended | |||||||
| June 30, | June 30, | |||||||
| 2025 | 2024 | |||||||
| Cash flows used in operating activities: | ||||||||
| Net income (loss) | $ | (371,926 | ) | $ | 1,322,550 | |||
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||||
| Gain on disposition of assets | - | (1,807,516 | ) | |||||
| (Gain) Loss on sale of subsidiaries | - | (21,126 | ) | |||||
| Depreciation and amortization | 218,474 | 168,562 | ||||||
| Amortization of right of use asset | 123,972 | 8,421 | ||||||
| Amortization of discount on notes payable | 2,568 | 2,568 | ||||||
| Stock based compensation | 202,402 | 208,504 | ||||||
| Value of stock appreciation rights | (227,263 | ) | 531,748 | |||||
| Provision for credit losses | 28,310 | 35,855 | ||||||
| Changes in assets and liabilities: | ||||||||
| Accounts receivable, net | 2,094,325 | (926,416 | ) | |||||
| Inventory and other current assets, net | 289,768 | 199,167 | ||||||
| Accounts payable and accrued liabilities | (2,473,041 | ) | (3,037,522 | ) | ||||
| Accrued separation costs - related parties | (166,665 | ) | (287,911 | ) | ||||
| Deferred revenue | (3,800 | ) | 128,319 | |||||
| Operating lease liability | (119,411 | ) | (8,421 | ) | ||||
| Net cash used in operating activities | (402,287 | ) | (3,483,218 | ) | ||||
| Cash flows from investing activities: | ||||||||
| Acquisition of property and equipment | (208,886 | ) | (15,857 | ) | ||||
| Cash received from disposition of asset, net of loan payoff | - | 2,101,185 | ||||||
| Net cash provided by (used in) investing activities | (208,886 | ) | 2,085,328 | |||||
| Cash flows from financing activities: | ||||||||
| Principal payments on debt | (88,654 | ) | (43,548 | ) | ||||
| Principal payments financing leases | (126,813 | ) | (94,841 | ) | ||||
| Cash received from line of credit | 500,000 | - | ||||||
| Principal payments on line of credit | (500,000 | ) | - | |||||
| Net cash used in financing activities | (215,467 | ) | (138,389 | ) | ||||
| Decrease in cash and cash equivalents | (826,640 | ) | (1,536,279 | ) | ||||
| Cash and cash equivalents at beginning of period | 2,380,195 | 5,422,335 | ||||||
| Cash and cash equivalents at end of period - continuing operations | $ | 1,553,555 | $ | 3,767,097 | ||||
| Cash and cash equivalents at end of period - discontinued operations | $ | - | $ | 118,959 | ||||
| Cash and cash equivalents at end of period | $ | 1,553,555 | $ | 3,886,056 | ||||
| Supplemental disclosure of cash flow information: | ||||||||
| Cash paid during the period for: | ||||||||
| Interest | $ | 409,271 | $ | 456,062 | ||||
| Taxes | $ | - | $ | - | ||||
| Non-cash investing and financing activities: | ||||||||
| Reclassify fixed assets as held for sale | $ | - | $ | 5,941,933 | ||||
| Principal and accrued interest paid from escrow to Maple Mark Bank | $ | - | $ | 353,815 | ||||
| Issuance of common stock under compensation plans | $ | 74 | $ | - | ||||
| Issuance of common stock from common stock to be issued | $ | 37 | $ | - | ||||
| Issuance of stock for cashless exercise of options | $ | 8 | $ | 2 | ||||
| Capitalized interest on financing lease | $ | 1,130 | $ | - | ||||
| Innovative Food Holdings, Inc. Reconciliation of GAAP to Non-GAAP Measures Adjusted EBITDA Calculations (unaudited) | ||||
| Q2 2025 | Q2 2024 | 2025 YTD | 2024 YTD | |
| Net Income (Loss) From Continuing Operations (GAAP) | ||||
| Depreciation & Amortization (1) | 110,172 | 218,474 | ||
| Interest expense – net | 187,927 | 397,093 | ||
| Income tax provision | $- | $- | $- | $- |
| EBITDA (Non-GAAP) (2) | ||||
| Adjustments: | ||||
| Separation Costs | $- | $- | $- | |
| Other Restructuring Costs | ||||
| Stock Compensation Expense (3) | ||||
| Legal Fees - JIT Lawsuit | $- | $- | ||
| Gain on Sale of Subsidiaries | $- | $- | $- | |
| Other Legal & Transactional | ||||
| Commission on Sale of Asset | $- | $- | $- | |
| Gain on sale of assets | $- | $- | $- | |
| Adjusted EBITDA (Non-GAAP) (4) | ||||
| Adjustments: | ||||
| Depreciation | ||||
| Interest expense – net | ||||
| Income tax provision | $- | $- | $- | $- |
| Adjusted Net Income (Non-GAAP) (5) | ||||
| Adjusted Diluted EPS (Non-GAAP) | ||||
| Weighted-average diluted shares outstanding (Non-GAAP) (6) | 54,785,684 | 51,117,570 | 54,376,253 | 51,123,656 |
| Q2 2025 | Q2 2024 | 2025 YTD | 2024 YTD | |
| Revenue (GAAP) | ||||
| Gross profit (GAAP) | 4,433,853 | 3,981,888 | 8,919,660 | 7,786,821 |
| Inventory Reserve | $- | $- | ||
| Adjusted Gross profit (Non-GAAP) (7) | ||||
| Adjusted Gross profit margin % (Non-GAAP) | ||||
| Q2 2025 | Q2 2024 | 2025 YTD | 2024 YTD | |
| Adjusted EBITDA (Non-GAAP) (4) | ||||
| Interest Expense -net | ||||
| Income Tax Expense - net | $- | $- | $- | $- |
| Maintenance Capital Expenditures (8) | ||||
| Adjusted Free Cash Flow (Non-GAAP) (9) | ||||
(1) Includes non-cash depreciation and amortization charges.
(2) Earnings before interest, taxes, depreciation, and amortization.
(3) Includes stock and options-based compensation and expenses.
(4) Adjusted EBITDA is a non-GAAP metric. Management believes that the presentation of Adjusted EBITDA and other non-GAAP financial measures provides useful information to investors because the information may allow investors to better evaluate ongoing business performance and certain components of the Company’s results. In addition, the Company believes that the presentation of these financial measures enhances an investor’s ability to make period-to-period comparisons of the Company’s operating results. This information should be considered in addition to the results presented in accordance with GAAP, and should not be considered a substitute for the GAAP results.
(5) Adjusted Net Income accounts for the impact of non-core expenses including addback for one-time organizational restructure expenses, gains or losses on sale of assets or subsidiaries, tradename impairments, amortization expense, expense on the extinguishment of debt, and stock related expenses in both 2024 and 2023.
(6) GAAP weighted average shares outstanding.
(7) Adjusted Gross profit is gross profit adjusted to remove the impact of inventory reserve adjustments or non-recurring inventory related gains or losses.
(8) Maintenance Capital Expenditures is a component of “Acquisition of property and equipment (GAAP)” on the consolidated statement of cash flows. It represents management’s assumptions of capital spending to maintain the company’s current level of operations. It does not include expenditures on acquisitions (less cash acquired), nor does it include other capital expenditures made to fund growth of the current business.
(9) Adjusted Free Cash Flow is defined as Adjusted EBITDA less interest expense, income tax expense, and maintenance capital expenditures. The company believes adjusted free cash flow is useful to investors in understanding how existing cash flow from operations before working capital changes and non-recurring items after maintenance capital expenditures (which we believe the best proxy for over time is Adjusted EBITDA less interest expense, income tax expense, and maintenance capital expenditures) is utilized as a source of growing our business. Adjusted Free Cash Flow is not a measure of cash available for discretionary expenditures since the company has certain non-discretionary obligations that were not deducted from the measure.
FAQ
What were IVFH's Q2 2025 revenue and earnings results?
How did IVFH's different business segments perform in Q2 2025?
What strategic changes did IVFH announce after Q2 2025?
What caused IVFH's decline in adjusted EBITDA for Q2 2025?
How did IVFH's gross margins perform in Q2 2025?
