Better Choice Company Inc (BTTR)

[namah sivaya]

BTTR eps out! REVS UP 183%!..

NEW YORK, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Better Choice Company, Inc. (OTCQB: BTTR) (the “Company” or “Better Choice”), an animal health and wellness company, today reported its financial results for the third quarter ended September 30, 2020.

“We are very excited to share our third quarter 2020 results with the investor community. 2020 has been a “banner year” for Better Choice and we are excited to be a leader in the highest growth areas of the pet food industry as we move into 2021,” said Werner von Pein, CEO of Better Choice.

“We have a strong presence in the highest growth segments of animal health with e-commerce and direct-to-consumer sales representing ~60% of consolidated revenue,” continued Mr. von Pein. “We are uniquely positioned to benefit in the current global environment as consumers move online and we are focused on continuing to convert a large number of our customer base into “sticky” subscription or recurring revenue purchasers. Our international expansion continues to accelerate and represented 27% and 22% of net sales for Q3 and year-to-date, respectively. A strong internal focus on achieving cash flow positivity, managing costs and adopting industry best practices provides a strong foundation for us as we execute on organic growth and evaluate M&A opportunities, with both avenues presenting compelling expansion opportunities.”

Operational Updates

Continued to grow the business throughout the COVID-19 recession, primarily in e-commerce, direct-to-consumer and international (sold through domestic distributors).
Successfully integrating the TruPet and Halo subsidiaries.
Received approval in June 2020 from the Chinese Ministry of Agriculture to ship 15 diets directly to mainland China. Net sales in China were $1.8mm and $3.5mm for Q3 and year to date, respectively, and expect annual revenue in China to be ~$7mm and growing. We expect total international annual revenue to be ~$12mm.
Consolidated warehouse operations in October 2020 into one location, just outside of Nashville, TN.
Raised more than $20mm of equity in October 2020 to support growth and de-lever the balance sheet, including more than $11mm invested by Company insiders.


https://www.globenewswire.com/news-release/2020/11/18/2129100/0/en/Better-Choice-Company-Reports-Third-Quarter-and-Year-to-Date-2020-Financial-Results.html