Freshpet Q1 net sales up 26.7% to $167.5M; Adjusted EBITDA turns positive at $3.0M

Freshpet, Inc.

2023-Q1 EPS reported -$0.52 revenue$167,522,000

Net sales of $167.5M (+26.7% YoY) driven by velocity gains and pricing.
Net loss of $24.8M vs $17.5M loss a year ago; Adjusted EBITDA of $3.0M vs -$0.3M.
Adjusted Gross Profit margin 38.5% vs 38.3% YoY; SG&A as % of sales improved 280 bps.
Issued $402.5M of 3.0% convertible senior notes due 2028; used $66.2M for capped call.
Reaffirms FY2023 guidance: net sales ~$750M, Adjusted EBITDA at least $50M, capex ~$240M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Freshpet, Inc. reported for its first quarter ended March 31, 2023 results: revenue Net sales of $167.5 million, net income Net loss of $24.8 million. Guidance reaffirmed.

Period: for its first quarter ended March 31, 2023
Revenue: Net sales of $167.5 million
Net income: Net loss of $24.8 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

(Nasdaq: FRPT) today reported financial results for its first quarter ended March 31, 2023 . First Quarter 2023 Financial Highlights Compared to Prior Year Period ● Net sales of $167.5 million, an increase of 26.7% ● Net loss of $24.8 million, compared with prior year net loss of $17.5 million ● Adjusted EBITDA of $3.0 million, compared to prior year of $(0.3) million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Freshpet, Inc. reported For full year 2023 results: revenue Net sales of ~$750 million. Guidance reaffirmed.

Period: For full year 2023
Revenue: Net sales of ~$750 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

For full year 2023, the Company reiterates its full year underlying guidance on Net Sales and Adjusted EBITDA. The Company expects the following results: ● Net sales of ~$750 million, an increase of ~26% from 2022. ● Adjusted EBITDA of at least $50 million.

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Freshpet, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-012894

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