secwatch.observer — SEC 8-K summary
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Issuer:     Edible Garden AG Inc (EDBL)
CIK:        0001809750
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0001477932-23-003405
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Edible Garden Q1 net loss $2.9M; revenue drops to $2.5M but gross profit improves; projects >20% revenue growth in 2023
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- Revenue of $2.5M (down 7% YoY from $2.7M) due to order timing and strategic shift to higher-margin partnerships.
- Net loss $2.9M ($2.21 loss per share) vs prior year loss of $2.6M ($15.40 loss); EPS improved on higher share count.
- Gross profit improved as COGS fell to $2.5M from $2.8M; new Heartland facility expected to boost margins via vertical integration.
- Record revenue in April; company projects FY2023 revenue growth >20% and expects to reach quarterly positive cash flow before year-end.
- Added Morton Williams supermarkets; expanded Gristedes/D'Agostino; Pulp sauces to launch at Whole Foods Mid-Atlantic and SE in summer 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1809750/000147793223003405/0001477932-23-003405-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1809750/000147793223003405/edbl_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-23-003405

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