IVFH posts $72.1M revenue (+2.5%), net income $2.5M in 2024; core foodservice Q4 organic growth 44.3%

INNOVATIVE FOOD HOLDINGS INC

Revenue $72.1M (+2.5% YoY); GAAP net income improved $6.2M to $2.5M.
Core foodservice distribution organic revenue growth of 44.3% in Q4 2024, driven by new retail business.
Completed first two acquisitions (Golden Organics, LoCo Foods); integration cut logistics costs 60%, driver hours 50%, eliminated $158K facility expense.
Divested non-core igourmet.com and Mouth.com, sold Florida HQ to improve financial flexibility.
Three board members stepping down (Klepfish, Cohn, Gramm); board reduced from eight to five members.

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