- Else Nutrition (BABY) reported first-quarter 2022 financial results for the period ending March 31, 2022
- Highlights include revenues of $1.6M and an expanded U.S. retail and online presence
- Hamutal Yitzhak, CEO of Else Nutrition commented on the results, discussed the upcoming quarter and highlighted how Else is helping address the shortage of infant formula in the U.S.
- Else Nutrition is an Israel-based food and nutrition company that develops plant-based nutrition products for infants, toddlers, children, and adults
- Else Nutrition Holdings Inc. (BABY) opened trading at C$1.25 per share
Else Nutrition (BABY) reported first-quarter 2022 financial results for the period ending March 31, 2022.
Q1 2022 financial highlights
- Revenues of $1.6M, a 26 per cent increase over Q4, 2021
- Sales on Amazon.com increased 40 per cent versus Q4, 2021
- Else products are now sold in over 1,300 stores
- The company launched two new products: Else™ Toddler Omega Complete & Balanced Nutrition drink and Else™ Super Cereal
Business highlights
- Expanded US retail presence to more than 1,300 stores
- Listed on Walmart.com and Kroger-owned online platforms
- Launched two new products: Else™ Toddler Omega Complete & Balanced Nutrition drink and Else™ Super Cereal, safe from heavy metals
- Launched an intensive HCP initiative in the US to reach more than 80,000 pediatricians
- Conducted an independent research survey demonstrating that Else’s products improve feeding-related disorders in a majority of children
Q2 2022 outlook
- Q2 revenues are expected to be in the range of $2M to $2.2M, representing a 25 to 38 per cent increase over Q1
Hamutal Yitzhak, CEO of Else Nutrition sat down with Coreena Robertson to highlight the company’s results, discuss plans for the upcoming quarter and outline how Else is helping address the shortage of infant formula in the U.S.
“We are experiencing a wave of growth driven by the formula shortage crisis. Many consumers and retailers recognize our ability to bring unique solutions to families in this troublesome situation.
We see a strong acceleration in sales on Amazon.com, and other channels, driven by new and existing customers. While revenues on Amazon.com already increased by 40 per cent QoQ in 1Q22, our Amazon.com daily sales doubled in the last few days. In addition, the number of Else subscribers on Amazon.com grew by 20 per cent over the previous four weeks, reaching more than 1200. The retail demand is also increasing, and we expect entry to major nation wide brick and mortar retail channels in the coming months.“
Else Nutrition is an Israel-based food and nutrition company focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults.
Else Nutrition Holdings Inc. (BABY) opened trading at C$1.25 per share.