Borealis Foods CEO letter: $50M injection, Gordon Ramsay partnership, 18.5% retail sales growth in 2023

Borealis Foods Inc.

2024-Q1 EPS reported -$0.49 revenue$7,895,433

Secured $50 million capital injection to fund growth.
Partnered with Gordon Ramsay as brand ambassador/investor; launched Woodles in U.S. schools winning 'Best Foodservice Initiative'.
Retail product sales (Chef Woo, Ramen Express) up 18.5% in 2023; distribution to 18,000+ U.S. stores, 3,300+ Canada, 700+ Mexico.
E-commerce (Amazon) sales nearly 8x growth in 2023; European retail started with 300 stores, pipeline of 3,000 more.
Woodles institutional expansion includes schools, military, correctional facilities; Feeding America partnership at 600 Sam's Clubs.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.4

Borealis Foods Inc. reported financial results for 2023.

Period: 2023
Result: reported results

Exact text from the filing

Reflecting on 2023, I am proud to acknowledge the remarkable strides Borealis has made, and I extend my deepest gratitude to our dedicated team for their unwavering commitment. Borealis had a remarkable 2023, marking yet another year of revenue growth and achievements across all our business initiatives, while maintaining our steadfast commitment to our cause and core values.

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Source: SEC EDGAR

accession 0001213900-24-033164

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