- Else Nutrition (BABY) reported first-quarter 2022 financial results for the period ending March 31, 2022
- Highlights include revenues of $1.6M and an expanded U.S. retail and online presence
- Else Nutrition is an Israel-based food and nutrition company that develops plant-based nutrition products for infants, toddlers, children, and adults
- Else Nutrition Holdings Inc. (BABY) opened trading at C$1.19 per share
Else Nutrition (BABY) reported first-quarter 2022 financial results for the period ending March 31, 2022.
Q1 2022 financial highlights
- Revenues of $1.6M, a 26 per cent increase over Q4, 2021
- Sales on Amazon.com increased 40 per cent versus Q4, 2021
- Else products are now sold in over 1,300 stores
- Cash balance of $19.8M as of March 31, 2022
- The company launched two new products: Else™ Toddler Omega Complete & Balanced Nutrition drink and Else™ Super Cereal
Business highlights
- Expanded US retail presence to more than 1,300 stores
- Listed on Walmart.com and Kroger-owned online platforms
- Else was invited by Amazon EU to launch a European unified account that will allow Else to sell its products on Amazon European marketplaces including the UK, Germany, France, Italy, Spain, the Netherlands, and Sweden
- Expanded ecommerce and retail distribution of the kid’s product line to include KeHE, UNFI, Walmart.com and Thrive Market
- Launched its third product, Else™ Toddler Omega Complete & Balanced Nutrition drink
- Launched its fourth product, Else™ Super Cereal, safe from heavy metals
- Acceptance of Supplemental Nutrition Assistance Program (SNAP) for Else products by Amazon.com.
- Launched an intensive HCP initiative in the US that includes a dedicated HCP website and a campaign to reach more than 80,000 pediatricians
- Conducted an Independent Research Survey demonstrating that Else’s products improve feeding-related disorders in a majority of children.
- Preparing to launch a clinical study with Children’s Hospital Colorado and Denver School of Medicine to validate the growth benefits of Else’s Plant-Based Nutrition product.
Hamutal Yitzhak, CEO of Else Nutrition commented on the news.
“We are in the very early stages of a multi-year revenue growth phase, as we are positioned to disrupt the $80 billion baby nutrition market. We have set the stage for this performance with thousands of retail points of sale, multiple SKUs ranging from 6M+ to 13Y products, strong distributors and major strategic partners that intend to drive the Else brand as a revolutionary protein alternative for babies, toddlers and kids.”
“We are seeing a strong acceleration in sales on Amazon.com, driven by new and existing customers. Revenues on Amazon.com increased by 40% QoQ in 1Q22. In addition, the number of Else subscribers on Amazon.com crossed the 1,000 mark in early April. Our retailers are experiencing solid and growing sales velocity of our products, and we are seeing growing reorders with many of those retailers. We expect to triple our door count to roughly 4,000 by the end of 2022.”
“In recent months we expanded our product offerings, with the launch of our Kids Shakes in 3Q21, and with our Toddler Omega and Super Cereal in 2022. During 2022 our product range will grow to roughly 8-10 products and over 20 SKUs in the US alone.”
“International expansion will be a focus for Else in 2022. In 2Q22 we will launch in Canada via Amazon.ca, our own e-store, and in natural food retailers and independents, regional grocery and drug retailers. In addition, in Q3 we expect to enter the UK and Western Europe via Amazon. We also expect to start selling online in China (Cross Border) in H2 2022. We feel very confident this growth rate is sustainable and will continue going forward.”
Else Nutrition is an Israel-based food and nutrition company focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults.
Else Nutrition Holdings Inc. (BABY) opened trading at C$1.19 per share.
