Real Good Food Company, Inc. - RGF STOCK NEWS

The Real Good Food Company, Inc. (NASDAQ: RGF) reported strong financial results for Q4 and the fiscal year 2022, with net sales rising 39% to $35.7 million and up 68% for the year to $141.6 million. Gross profit margin improved to 13.7%, up from 5.0% year-over-year, driven by lower commodity costs and production efficiencies. The company maintains a revenue guidance of at least $200 million for 2023 and aims for positive operating cash flow. Noted improvements include operational efficiencies from the Bolingbrook facility and a decrease in net loss to $11.9 million from $44.9 million in Q4 2021.

The Real Good Food Company (NASDAQ: RGF) has announced it will report its financial results for the fourth quarter and fiscal year ended December 31, 2022, on March 27, 2023, before market open. An investor conference call is scheduled for the same day at 8:30 a.m. ET, covering the financial results, corporate updates, and a Q&A session. Real Good Foods specializes in health and wellness frozen foods, aiming to provide nutritious, low-sugar, low-carb, and high-protein options. Its products are widely available in over 16,000 stores nationwide.

The Real Good Food Company (NASDAQ: RGF) announced a favorable amendment to its loan agreement, enhancing liquidity by up to $20 million. This includes an additional borrowing capacity of $10 million beyond the existing asset base and increased advance rates on finished goods and raw materials. Executive Chairman Bryan Freeman emphasized that this reflects the lender's confidence in the company's growth prospects and provides access to non-dilutive capital for long-term value creation. Real Good Foods specializes in health-focused frozen foods, with over 16,000 store locations nationwide.

Real Good Food Company (Nasdaq: RGF) announced the nationwide launch of its multi-serve Asian entrees at Safeway and Albertsons, following a significant 32% month-over-month sales increase according to SPINS data. This expansion includes approximately 1,800 stores, contributing to a total of 40,000 new distribution points, marking a 25% growth in the measured channel. The company reported a 26% increase in brand velocity and is on track to exceed its 33% sales growth forecast. Real Good Foods' entrees are positioned as healthier options, with low sugar and high protein content, aimed at enhancing its market presence.

The Real Good Food Company (Nasdaq: RGF) announced the launch of its Creamy Poblano Chicken Enchiladas in Sam’s Club stores nationwide, starting January 4, 2023. This new meal offering follows three other product launches in the past year, highlighting the company's commitment to providing health-oriented frozen foods. The enchiladas feature a proprietary tortilla filled with seasoned chicken and Monterey Jack cheese, topped with a homemade poblano sauce. The launch aims to increase the accessibility of nutritious foods for health-conscious consumers.