Steakholder Foods Reports 2024 Financial Results and Provides Business Update
Rhea-AI Summary
Steakholder Foods (STKH) reported its 2024 financial results, marking its first year of revenue generation with $10,000 in initial sales. The company secured commercial agreements with Bondor Foods for fish premix blends and Wyler Farm for beef premix products.
Financial highlights include:
- Net loss decreased to $8.5M from $15.5M in 2023
- R&D expenses reduced to $3.5M from $7.1M
- Marketing expenses decreased to $1.4M from $2.7M
- G&A expenses dropped to $3.6M from $4.4M
- Cash and equivalents at year-end were $1.3M vs $4.2M in 2023
The company opened its first full-scale Demonstration Center showcasing 3D printing technologies and secured $1.25M through a securities purchase agreement in February 2025, along with an $8M equity line of credit through June 2026.
Positive
- First revenue generation achieved with commercial sales agreements
- Operating loss reduced by 45% to $8.5M
- R&D expenses decreased by 51% to $3.5M
- Secured $1.25M investment and $8M equity line of credit
- Expanded product portfolio with new partnerships in fish and beef alternatives
Negative
- Minimal initial revenue of only $10,000
- Gross loss of $22,000 on first sales
- Cash position declined 69% to $1.3M
- Total assets decreased 28% to $7.8M
- Total capital reduced 32% to $4.0M
News Market Reaction 1 Alert
On the day this news was published, STKH declined 4.63%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Rehovot, Israel, March 31, 2025 (GLOBE NEWSWIRE) -- Steakholder Foods Ltd. (Nasdaq: STKH), a leading innovator in 3D-printed meat and fish technology and cultivated cell innovation, is pleased to provide an annual business update for the year ended December 31, 2024 and subsequent events. Demonstrating significant strides in both technological advancements and market presence, Steakholder Foods continues to solidify its position as a leader in the future of alternative meat and fish production.
2024 and Up to Date Business Highlights
2024 was the year that Steakholder Foods initiated revenue generation, following the signing of a commercial sales agreement with Bondor Foods Ltd., a sister company of Premazon. Following the successful completion of a product development phase with Premazon announced earlier in 2024, the Company received an initial purchase order from Bondor Foods for its proprietary SH™ – Fish premix blends. While the initial revenue was minimal in 2024, this achievement was seen as a crucial validation of Steakholder’s commercialization strategy, setting the stage for potentially significant future sales. The agreement with Bondor Foods involves integrating Steakholder’s premix into Bondor’s new line of plant-based white fish and salmon patties, which are ready to reach the market, leveraging Bondor’s existing extensive distribution network.
Building on this commercial momentum, Steakholder announced another purchase order, this time from Wyler Farm for its SH™ - Beef premix blends. This order is for the development of a new line of plant-based meatballs, burgers, and minced beef for release in 2025. The varied purchase orders underscore the Compny’s versatility in meeting diverse needs across the alternative protein sector, from seafood to meat substitutes. Following the product launch, Steakholder Foods intends to work with Wyler Farm to produce an additional product line using its proprietary 3D printing technology and premix blends, including manufacturing printed beef steaks.
In 2024, Steaholder also continued to make progress with its partnerships with the Industrial Technology Research Institute (ITRI), a Taiwan-based world-leading applied technology research institute, and Sherry Herring Sandwiches Ltd, a highly-recognized gourmet fish delicacies brand. The collaboration with ITRI continues to drive Steakholder’s expansion in Taiwan, focused on developing products tailored to local tastes.
To support Steakholder’s commercialization efforts, it opened its first full-scale Demonstration Center, a state-of-the-art facility that showcases the Company’s groundbreaking 3D printing technologies in action. This center features live demonstrations of the MX200 and HD144 printers, allowing potential clients and partners to experience firsthand the entire production process of Steakholder’s plant-based meat and seafood alternatives. Built to food production facility standards, the center enables visitors to observe every step from material preparation through production and packaging, culminating in tasting sessions that highlight the quality and versatility of the Company’s offerings.
On the fundraising front, in February 2025, the Company entered into a securities purchase agreement with an investor, whereby the investor purchased 1,097,358 ADSs (or pre-funded warrants in lieu thereof) at a final offering price of
2024 Financial Results Summary:
Steakholder Foods generated initial revenues of
Research and development expenses decreased to
Marketing expenses decreased to
General and administrative expenses decreased to
The loss from continuing operations decreased to
Net loss per share from continuing operations decreased to
Cash flow - Net cash used in operating activities decreased to
Net cash provided by financing activities decreased by approximately
Cash and equivalents at year-end 2024 was
Non-current assets stood at
Total assets stood at
Total capital stood at
About Steakholder Foods
Steakholder Foods is at the forefront of transforming the alternative protein industries through its advanced technology. Founded in 2019, Steakholder Foods specializes in developing and selling 3D-printing production machines, supported by proprietary premix blends, formulated from the highest-quality raw ingredients. These innovative tools are designed to help manufacturers of all sizes efficiently produce foods that meet and exceed consumer expectations for taste, texture, and appearance and offer a safe and sustainable alternative to industrialized meat and seafood production.
Steakholder Foods’ expertise in creating alternative proteins products that replicate the complex textures of traditional meats such as beef steaks, white fish, shrimp, and eel. The company is also exploring the integration of cultivated cells, preparing for future advancements in food technology.
Forward-Looking Statements
This press release contains forward-looking statements concerning Steakholder Foods’ business, operations and financial performance and condition as well as plans, objectives, and expectations for Steakholder Foods’ business operations and financial performance and condition. Any statements that are not historical facts may be deemed to be forward-looking statements. Forward-looking statements reflect Steakholder Foods’ current views with respect to future events and are based on assumptions and subject to known and unknown risks and uncertainties, which change over time, and other factors that may cause Steakholder Foods’ actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and are typically identified with words such as “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan” or words or phases of similar meaning and include, without limitation, Steakholder Foods’ expectations regarding the success of the technologies which it is developing, which may require significant additional work before Steakholder Foods can potentially launch commercial sales; Steakholder Foods’ research and development activities associated with printing technologies, including three-dimensional food printing, which involves a lengthy and complex process; Steakholder Foods’ ability to obtain and enforce its intellectual property rights and to operate its business without infringing, misappropriating, or otherwise violating the intellectual property rights and proprietary technology of third parties; and other risks and uncertainties, including those identified in Steakholder Foods’ Annual Report on Form 20-F for the fiscal year ended December 31, 2024, filed with the Securities and Exchange Commission on March 31, 2025. New risks and uncertainties may emerge from time to time, and it is not possible for Steakholder Foods to predict their occurrence or how they will affect Steakholder Foods. If one or more of the factors affecting Steakholder Foods’ forward-looking information and statements proves incorrect, then Steakholder Foods’ actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this press release. Therefore, Steakholder Foods cautions you not to place undue reliance on its forward-looking information and statements. Steakholder Foods disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law.
Press Contact:
Steakholder Foods Ltd.
Investor Contacts:
Steakholder Foods Ltd.
Investors@steakholderfoods.com
FAQ
What were Steakholder Foods (STKH) key revenue achievements in 2024?
How much did STKH reduce its operating losses in 2024 compared to 2023?
What financing did Steakholder Foods secure in early 2025?
How much cash does STKH have as of year-end 2024?
What strategic facilities did STKH open to support commercialization?
