on The Fresh Factory B.C. Ltd. (isin : CA35805H1055)
The Fresh Factory Reports Milestone Billed Revenue of $8.4M and Positive EBITDA in Q1 2024
The Fresh Factory B.C. Ltd. (TSXV:FRSH)(FRA:Q4Z) achieved its highest-ever quarterly billed revenue of $8.4M USD (CAD $11.5M) for the quarter ending March 31, 2024. This marks the first quarter since going public in 2021 that the company recorded a positive EBITDA, totaling +$0.3M USD (CAD +$0.4M), and an adjusted EBITDA of +$0.4M USD (CAD +$0.5M).
The company also successfully passed its annual food-safety audits at its two production facilities, scoring 97 and 98, respectively. The Fresh Factory's financial achievements include a 52.7% increase in billed revenue compared to Q1 2023, driven by new customer acquisitions and increased demand from existing customers.
Operational highlights feature adjusted gross margins of $3M USD (CAD $4.1M), a doubling from Q1 2023, due to heightened sales volume and enhanced production efficiencies. Additionally, The Fresh Factory continues to lead in sustainability practices, including composting 100% of its food waste and donating surplus produce.
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