Innovative Food Stock Price, News & Analysis

Innovative Food Holdings, Inc. (IVFH) reported a record first-quarter revenue of $15.6 million, marking a 28% increase year-over-year. Specialty foodservice revenue surged 69% to $11.5 million, benefiting from increased demand in the hospitality sector as restrictions eased. However, eCommerce revenue declined 28% to $3.6 million. The company recorded a GAAP net loss of $(1.2 million), an improvement from $(1.8 million) in the same period last year. Management remains optimistic about long-term growth, citing strategic initiatives and a resilient eCommerce platform.

Innovative Food Holdings (IVFH) reported a record total revenue of $20.8 million for Q4 2021, marking a 38% year-over-year increase, and a full-year revenue of $62.2 million, a 20% growth compared to 2020. Q4 saw a notable 72% rise in specialty foodservice revenue, attributed to the reopening of restaurants due to COVID-19. The company also reported a Q4 GAAP net income of $1.7 million, reversing the previous year's loss. Challenges in supply chain management were noted, but the company remains optimistic about future growth through M&A opportunities and scaling its digital platform.

Gastro Obscura and igourmet have collaborated to launch a limited edition "Taste of Gastro Obscura Box," featuring 13 unique snacks from 10 countries, priced at $149.99. The collaboration aims to offer food enthusiasts an edible journey through intriguing culinary experiences. Notable items include Biltong from South Africa and Hunza Mulberries from the Himalayas. Gastro Obscura co-author Dylan Thuras and igourmet's VP Pete Bowman highlight the partnership's goal of inspiring curiosity about global cuisines.

Innovative Food Holdings reported a record third-quarter revenue of $15.2 million, up 35% year-over-year. Specialty Foodservice revenue soared 79% driven by the reopening of foodservice establishments. E-commerce revenue rose 69% compared to 2019 levels, although it declined 36% compared to 2020 due to heightened COVID-19 demand. The company reported a GAAP net income of $0.4 million or $0.01 per share, an improvement from the $1.6 million net loss in the prior year. Total revenues for the first nine months reached $41.3 million, a 13% increase year-over-year.

Innovative Food Holdings, Inc. (OTCQB: IVFH) announced the appointment of Jeff Gramm as an outside director to its Board of Directors on September 15, 2021. CEO Sam Klepfish expressed optimism about Gramm's potential contributions to the company's growth and shareholder value. Gramm, a seasoned investor and co-founder of Bandera Partners, brings extensive experience, including prior roles at Arklow Capital and various board positions. His appointment is seen as a strategic move to enhance leadership and drive growth in IVFH's e-commerce specialty food platform.

Innovative Food Holdings, Inc. (IVFH) recently closed a $3.75 million private placement, priced at over 33% premium to the market rate. This placement was backed by board members and external investors, reflecting confidence in the Company's growth potential. The private placement was finalized on August 26, 2021, with shares sold at $0.40 each. CEO Sam Klepfish expressed optimism about this financing, which aims to fuel future growth strategies, enhancing the Company's position in the specialty food market.

Innovative Food Holdings (IVFH) announced a 17% revenue increase year-over-year, achieving a total of $14 million in the second quarter of 2021. Specialty foodservice revenue soared by 148%, offset by a 56% decline in e-commerce sales. Despite challenges from COVID-19, the company reported improvements in gross margins and efficiency in SG&A expenses, which fell to their lowest level since 2019. A net loss of $0.9 million per share reflects continued investment in growth, yet also indicates operational challenges. Overall, revenue for the first half of 2021 reached $26.2 million, up from $25.3 million last year.

Innovative Food Holdings, Inc. (IVFH) has launched sustainable packaging solutions featuring SEALED AIR® brand TempGuard™, replacing traditional polystyrene containers in their e-commerce operations. This 100% recyclable packaging maintains temperature for up to 48 hours and supports reduced shipping box sizes. CEO Sam Klepfish emphasizes the importance of eco-friendly solutions in meeting customer demands. This transition positions IVFH as a leading user of sustainable packaging in the direct-to-consumer perishable food sector, enhancing both environmental responsibility and customer satisfaction.

Innovative Food Holdings (IVFH) has teamed up with Isaac Mizrahi Live! to showcase a unique selection of curated cheese and wine pairings. This collaboration will be featured on QVC’s Gourmet Holiday Show on July 28, 2021. The cheese selections from igourmet.com are specifically chosen to complement award-winning wines from Vintage Wine Estates, highlighting the company’s commitment to quality specialty foods. CEO Sam Kelpfish emphasizes this partnership as a strategic move to enhance the brand's direct-to-consumer offerings.