BranchOut Food Inc. Announces Record First Quarter 2024 Results, Gross Margin Increased to 19%, On Track for ~$8M Run Rate [Yahoo! Finance]
BranchOut Food Inc. (BOF)
Company Research
Source: Yahoo! Finance
Secured $8 million in recurring revenue plus $1.1 million in rotational retailer commitments. BEND, Ore., May 15, 2024 (GLOBE NEWSWIRE) -- BranchOut Food Inc. (NASDAQ: BOF), a leading food technology company specializing in dehydrated fruit and vegetable-based products, today announced its recent accomplishments and financial results for the first quarter ended March 31, 2024. The Company reported a 1,407% increase in revenue for the first quarter ending March 31, 2024 of $1.47 million compared to $97,000 in the year ago quarter. Additionally, BranchOut Food achieved a gross margin of 19% in Q1 2024, a significant improvement from -3% in Q1 2023. Eric Healy, CEO of BranchOut Food, commented, “This quarter's exceptional performance confirms the strong momentum of our growth strategy. We now have contracts totaling about $8 million in annualized revenue that will continue to layer on throughout the year. Additionally, we have commitments for approximately $1.1 million in rotation o
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BOF
News
- BranchOut Food Ships First Production of New, Innovative Products to Nation's Largest Retailer, Initiating Second of Three Existing Contracts Totaling $8M [Yahoo! Finance]Yahoo! Finance
- BranchOut Food Ships First Production of New, Innovative Products to Nation’s Largest Retailer, Initiating Second of Three Existing Contracts Totaling $8MGlobeNewswire
- BranchOut Food Enters the $300 Billion Industrial Food Ingredients Market [Yahoo! Finance]Yahoo! Finance
- BranchOut Food Enters the $300 Billion Industrial Food Ingredients MarketGlobeNewswire
- U.S. Army Selects BranchOut Food Products for Field Test with Aim of Revolutionizing MREs [Yahoo! Finance]Yahoo! Finance
BOF
Sec Filings
- 6/24/24 - Form FWP
- 6/24/24 - Form S-1/A
- 6/24/24 - Form FWP
- BOF's page on the SEC website