VANCOUVER, British Columbia, April 26, 2022 (GLOBE NEWSWIRE) — ELSE NUTRITION HOLDINGS INC. (baby) (BABYF) (0YL.F) (“Else” or the “company”), the Plant-Based baby, toddler and children nutrition company, is pleased to announce revenue growth to be at the high end of its 1Q22 expectations.
On March 31st, 2022, the Company released its 2021 annual results and expectations for 1Q22 revenues to be in the range of C$1.45M to C$1.6M, representing a 15% to 25% sequential increase versus 4Q21. The Company now expects to be at the top end of this guidance range.
The Company anticipates continuing its revenue growth in 2Q22 with expectation of revenues to range between C$1.8M and C$2.0M. This increase is driven by the successful launch of Else Toddler Omega and the upcoming launch of the Else Super Cereal product line.
A key revenue growth indicator is the rapid growth on Amazon.com. Revenues on Amazon.com increased by 40% QoQ in 1Q22 (C$0.6M, pre-audit) compared with 4Q21 (C$0.43M), with expectations to continue at a similar growth rate in 2Q22, reaching quarterly revenue run rate of C$1 million. Supporting this growth, the number of Else subscribers on Amazon.com crossed the 1,000 mark in early April.
“We are delighted to witness our accelerated sales growth,” said Hamutal Yitzhak, CEO & Co-Founder of Else Nutrition. “With the new super cereal product line and our upcoming launches in Canada, China and Europe, we expect sales to continue accelerating in the coming months.”
About Else Nutrition Holdings Inc.
Else Nutrition GH Ltd. is an Israel-based food and nutrition company focused on developing innovative, clean and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formula. Else Nutrition (formerly INDI) won the “2017 Best Health and Diet Solutions” award at Milan’s Global Food Innovation Summit. Else Plant-Based Complete Nutrition for Toddlers was recently ranked as the #1 Top Seller in the baby and toddler formula category on Amazon. The Company recently received the World Plant-Based Award for “Best dairy alternative product” in New York at World Plant-Based Expo in late 2021. The holding Company, Else Nutrition Holdings Inc., is a publicly-traded company, listed on the Toronto Stock Exchange under the trading symbol BABY and quoted on the US OTC Markets QX board under the trading symbol BABYF on the Frankfurt Exchange under the symbol 0YL. Else’s Executives include leaders hailing from leading infant nutrition companies. Many of Else advisory board members had past executive roles in companies such as Mead Johnson, Abbott Nutrition, Plum Organics and leading infant nutrition Societies, and some of them currently serve in different roles in leading medical centers and academic institutes such as Boston Children’s Hospital, Pediatrics at Harvard Medical School, USA, Tel Aviv University, Schneider Children’s Medical Center of Israel, Rambam Medical Center and Technion, Israel and University Hospital Brussels, Belgium.
For more information, visit: elsenutrition.com or @elsenutrition on Facebook and Instagram.
Investor Relations Contact:
Lytham Partners, LLC
Mr Ben Shamsian
New-York | phoenix
TSX Venture Exchange
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Caution Regarding Forward-Looking Statements
This press release contains statements that may constitute “forward-looking statements“ within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as “will“ or similar expressions. Forward-looking statements in this press release include statements with respect to the anticipated dates for filing the Company‘s financial disclosure documents. Such forward-looking statements reflect current estimates, beliefs and assumptions, which are based on management‘s perception of current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct. Forward-looking statements made in this press release assume, among others, the expectation that there will be no interruptions or supply chain failures as a result of COVID 19 and that the manufacturing, broker and supply logistic agreement with the Company do not terminate. Actual results may differ from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management‘s expectations only as of the date of this press release. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.