Ricebran Technologies Stock Price, News & Analysis

RiceBran Technologies (NASDAQ:RIBT) reported a 35% revenue increase to $10.2 million for Q2 2022 compared to Q2 2021, largely driven by strong demand for core-SRB products. However, the gross profit declined to a loss of $477,000, significantly impacted by production issues in the Value-Add SRB derivatives segment. Operating losses increased 15% to $2.0 million, while net losses grew 36% to $2.6 million. Despite these challenges, management expects recovery with improved production in the latter half of the year and has solidified new customer relationships in the pet food sector.

RiceBran Technologies (NASDAQ:RIBT) will host a conference call on August 11, 2022, at 4:30 p.m. EST to discuss the financial results for the second quarter ending June 30, 2022. Executives Peter Bradley and Todd Mitchell will lead the discussion. Participants can join via toll-free US/Canada number 800-343-4849, or international dial-in 203-518-9848, using access code RICEBRAN. A replay will be available for 90 days post-call through the company's website.

RiceBran Technologies (NASDAQ:RIBT) has scheduled its Annual Shareholder Meeting for July 14, 2022, at 9 a.m. ET in New York. Shareholders can register for in-person attendance via the company's proxy statement or contact proxy@ricebrantech.com. A live webcast will also be available through Zoom on the company's investor relations page. RiceBran Technologies specializes in nutritional ingredients from rice and ancient grains, focusing on products that are non-GMO and organic.

RiceBran Technologies (NASDAQ:RIBT) announced the pursuit of Upcycled Food Association certification to enhance its sustainability initiatives and appeal to eco-conscious consumers. The program aims to reduce food waste by promoting ingredients derived from surplus food. RiceBran's Stabilized Rice Bran (SRB) is already an upcycled product, providing a healthy alternative to traditional feed sources. This certification is expected to incentivize sustainable practices among farmers and meet growing consumer demand for natural, healthy foods.

RiceBran Technologies (NASDAQ:RIBT) announced plans to add a fifth extruder at its Mermentau, Louisiana facility to expand capacity for the growing companion animal market. This initiative, expected to be completed in Q3 2022, aims to meet rising demand for North American-sourced ingredients. The project will utilize repurposed equipment, minimizing costs, while the remediation of a damaged warehouse in Lake Charles was funded by insurance. The company anticipates significant growth due to the increased popularity of pets and demand for healthy, natural pet food.

RiceBran Technologies (NASDAQ:RIBT) will present at the LD Micro Invitational XII on June 8, 2022, at 3 p.m. PT. CFO Todd Mitchell is set to deliver the presentation at the Four Seasons Westlake Village in Los Angeles. Attendees can access the livestream at Ldinv12.mySequire.com, with a copy of the presentation available on their investor relations site at ricebrantech.com/investors. Investors can coordinate meetings with Mitchell through LD Micro or contact RiceBran investor relations at ribt@fnkir.com.

RiceBran Technologies (NASDAQ:RIBT) has announced plans to double the capacity of its MGI Grain facility in East Grand Forks, Minnesota, with a minimal capital investment of less than $500,000 and limited labor increase. This expansion aims to meet the growing demand for domestically sourced grain-based ingredients. The project involves replacing a key grain de-huller and adding a color sorter to boost production and quality. Expected completion is by mid-summer 2022, positioning RiceBran to capitalize on the rising demand fueled by supply chain uncertainties.

RiceBran Technologies (NASDAQ:RIBT) reported a 23% increase in revenue for Q1 2022, reaching $10.6 million compared to $8.6 million in Q1 2021, driven by strong sales in core-SRB and milling businesses.

However, gross profit declined to $502,000 from $672,000 year-over-year. The company also experienced a net loss of $1.5 million, a significant decrease from net income of $591,000 in the previous year. Despite these challenges, RiceBran continues to focus on high-value specialty ingredients, with plans for new product introductions and enhanced supply chain strategies.

RiceBran Technologies (NASDAQ:RIBT) announced the appointment of Jean M. Heggie and Will T. Black to its Board of Directors, effective April 28, 2022. Heggie, founder of Heggie & Associates, brings over 30 years of experience in food ingredient marketing, while Black has 35 years in the health and nutrition sector, including leadership roles at ChromaDex and DSM Nutritional Products. Their expertise aims to enhance the company's growth strategy in response to evolving market demands and disruptions in the supply chain.