Better Choice FY2022 net sales $54.7M (+19% YoY) but net loss $39.3M; cash drops sharply

SRx Health Solutions, Inc.

FY2022 net sales $54.7M (+19% YoY); Q4 net sales $9.3M (-15.6% YoY).
Full year net loss $39.3M vs. net income $3.4M in FY2021; includes $18.6M goodwill impairment.
Adjusted EBITDA loss widened to $(11.8)M from $(7.1)M in prior year.
Cash and equivalents fell to $3.2M from $21.7M at year-end 2021; cash burn remains a key concern.
International (+48%) and Brick & Mortar (+72%) drove growth; E-commerce (-3%) and DTC (-30%) declined.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SRx Health Solutions, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $9.3 million, net income $24.4 million.

Period: the fourth quarter ended December 31, 2022
Revenue: $9.3 million
Net income: $24.4 million
Result: reported results

Exact text from the filing

results for the fourth quarter and year ended December 31, 2022. Lionel F. Conacher, Interim CEO of Better Choice, stated, “During the fourth quarter, net sales were sales were $9.3 million resulting in full year 2022 net sales of $54.7 million, a 19% increase versus the prior year. Our International channel delivered year-over-year net sales growth of 48% and Brick

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SRx Health Solutions, Inc. reported the year ended December 31, 2022 results: revenue $54.7 million, net income $(39.3) million.

Period: the year ended December 31, 2022
Revenue: $54.7 million
Net income: $(39.3) million
Result: reported results

Exact text from the filing

and Current Reports on Form 8-K. --- EX-99.1 (EX-99.1) --- Better Choice Company Reports Fourth Quarter and Full Year 2022 Financial Results Year-to-Date Net Sales Totaled $54.7 million, an Increase of 19% Year-over-Year Year-to-Date Gross Margin of 28%, or 31% Excluding the Impact of Inventory Rationalization NEW YORK, NY, March 28, 2023 -- Better Choice

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SRx Health Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-009335

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