Tattooed Chef (TTCF) reported preliminary revenue of $149 million for fiscal 2020, marking a remarkable 76% growth year-over-year. The company also achieved $39.5 million in revenue for Q4 2020, a 47% increase. The brand's product revenue grew significantly, reaching $24 million in Q4, a 253% rise from the previous year. Following the exercise of 9.1 million warrants, Tattooed Chef's cash balance stands at approximately $200 million, enhancing its ability to pursue strategic initiatives. Financial results for Q4 and fiscal 2020 will be reported on March 10, 2021.
Tattooed Chef goes public following its merger with Forum Merger II Corporation, starting trading on Nasdaq under TTCF and TTCFW on October 16, 2020. Ittella International's management anticipates significant growth opportunities in the plant-based food sector. Approximately 80% of equity is retained by Tattooed Chef's shareholders, indicating strong confidence in the company. The current management team, led by Sam Galletti, aims to expand brand awareness and innovative product offerings while addressing the increasing demand for plant-based foods.