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Tuesday, August 15, 2017 4:09:20 PM
This is what we paid for our YoY growth (just over $1M in absolute terms):
6.4M shares (Marley = 3M, Coco = 2.2M, & PMC = 1.2M)
$2M in cash (Coco)
Assumed $1.57M in debt (Coco)
FOR
Marley (only 16 days of revenue represented in Q2 / reported $9M TTM before Marley Mate rollout)
Coco Libre (100% on the books for Q2 / maybe $6M in 2017?)
PMC (which appears to be a de minimus income stream for the moment).
Revenue recognition can be a funny thing. With quarterly snapshots, revenue streams can be "bumpy", meaning things could even out next quarter, but we won't know that until next quarter.
We had a record quarter but it wasn't record enough. Synergies are taking longer than expected and they don't have a lot of cash to throw at the problem. Based on things from the CC, things will improve in Q3. 5 major near-term rollouts planned. Marley Mate was specifically mentioned ($1,000 per store x 10K stores = $10M annual run-rate). Gross margins improved and will improve further. And the projection is to be EBITDA profitable in Q3 and Q4, i.e., we won't be losing money.
Sources
From Q2 in 2016 - "On a consolidated proforma basis, nBev net revenues for the quarter ended June 30, 2016 were $15,015,620 on a gross sales basis and $13,950,735 in net revenues on a pro forma basis, a 2% increase versus the 2nd quarter in 2015."
https://www.accesswire.com/444185/New-Age-Beverages-nBev-Releases-2nd-Quarter-Earnings-Achieves-13950735-In-Pro-Forma-Net-Revenue-Up-2-VS-PY
From Q2 in 2017 - "In Q2 2017 New Age delivered $16.0 million ($16,038,264) in gross revenue ... and up 6.7% organically on a pro-forma basis. {Net Revenues = $15,104,795} As the Marley acquisition closed on June 13, 2017, the results only include the benefits of the Marley acquisition for last 16 days of the quarter."
$16,038,264 / $15,015,620 = 6.8% increase
$15,104,795 / $13,950,735 = 8.3% increase
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