Simply Better Brands (TSXV:SBBC) announces Q2 financial results

Simply Better Brands (SBBC) has announced its financial results for the quarter ended June 30, 2022
For the three months ended June 30, 2022, the company generated revenue of $16.9 million with a gross profit of $11.7 million
Second quarter 2022 revenue was up 445 per cent over the same period in 2021
Second quarter 2022 gross profit was up 550 per cent over the same period for 2021
CEO, Kathy Casey sat down with Sabrina Cuthbert to discuss the results
Simply Better Brands Corp focuses on promoting healthy and active lifestyles
Simply Better Brands Corp. (SBBC) opened trading at C$0.435

Simply Better Brands (SBBC) has announced its financial results for the quarter ended June 30, 2022.

Q2 financial highlights:

For the three months ended June 30, 2022, the company generated revenue of $16.9 million with a gross profit of $11.7 million compared to $3.1 million with a gross profit of $1.8 million during the three months ended June 30, 2021.

Second quarter 2022 revenue was up 445 per cent over the same period in 2021 and second quarter 2022 gross profit was up 550 per cent over the same period for 2021. Operating costs for three months ended June 30, 2022, were $13.5 million, an increase of $10.6 million, compared to $2.9 million in the second quarter of 2021.

The company had a loss of $2.8 million for the three months ended June 30, 2022. Loss per share was $0.09 in the second quarter of 2022.

The company generated positive adjusted EBITDA of $0.7 million for the three months ended June 30, 2022, an increase of $1.6 million over the adjusted EBITDA loss for the comparable period in 2021.

SBBC CEO, Kathy Casey sat down with Sabrina Cuthbert to discuss the results.

“We consider Q2 2022 as trifecta performance against our critical metrics: strong topline sales, gross margin expansion, while delivering positive adjusted EBITDA. It is a proof point in our ability to build and acquire clean ingredient brands and expand them into omni-channel environments with solid operational fundamentals and strong financial governance. Our strategic growth priorities remain to lead consumer-centric innovation and relentlessly acquire customers to these emerging brands by driving category, channel and geographic expansion. In parallel, we are integrating the acquisitions of BRN/Seventh Sense and Hervé into three growth verticals: plant-based wellness, food and beverage, and health & beauty.”

Simply Better Brands Corp. leads an international omnichannel platform with assets in the emerging plant-based and holistic wellness consumer product categories.

Simply Better Brands Corp. (SBBC) opened trading at C$0.435.