This quarter FOD brought in $11.1M in gross revenue, growing 22.7% on the same period last year.įOD also brought in $9.2M in receipts, steady from the same periods last year. Overall, we think this was a very strong quarter from FOD and is indicative of the job that CEO Steven Cail has done to ‘Reset’ the company. Operating costs (steady at $8.8M vs last quarter $8.7M).Gross revenues (up 22.7% on same period last year, at $11.1M) and cash receipts (steady at $9.2M vs last quarter).Debt (being paid down at $320K per quarter for the last 3 quarters, $6.5M facility now paid down to $5.2M).Cash on hand (steady at $900K from Q1 2022 to Q2 2022).We look at four key financial indicators when analysing our FOD Investment (quarterly figures): This was the number 1 objective that we wanted to see FOD achieve in 2022. Metrics: FOD’s share price in ratiosįOD is in the process of optimising its business for growth – just like squeezing every last drop of juice from an orange. Newsflow out of FOD is largely limited to the quarterly 4C, so we thought we’d take a look at how some of the financial metrics out of yesterday’s release stack up with FOD’s financial performance over the last 12 months. We think that FOD’s domestic distribution and new product development strategy will position the company well for FY23 with the ‘blue sky’ potential for export into ‘targeted international markets’ being the key catalyst for business expansion and growth. In addition to the Costco deal, Woolworths has agreed to increase its distribution of the Juice Shots. Major supermarkets are starting to take notice too.Įarlier this month FOD announced that Costco Australia has agreed to stock FOD’s flagship Original Juice Label products in 4×1 litre packs. Product extensions, like the new “Calm” shots, exemplifies this growth, and FOD’s 53% market share in this segment indicates that the products are resonating with consumers. We think that new product development is driving FOD’s 22.7% revenue growth, validating the company’s strategy of expanding its range.įOD says that the Juice Labs range is tracking to become a $7M brand in the next financial year – a strong performance considering that the first products were launched only 18-months ago. This continues FOD’s momentum of new product releases over the last 12-18 months, with Plant Based Smoothies, Carbonated Wellness Cans and Juice Shots all released within that time frame. An extension to the Juice Labs Wellness Shots range with “Calm”.Vegetable-based juices to target health conscious Australians.
Kicking off its “Growth” phase, last month FOD announced that it had launched two new products: Now, with a second successive cash flow positive quarter behind it, we believe the ‘Reset’ stage has been accomplished and we look forward to FOD executing on the ‘Growth’ phase in FY23.įOD’s financial performance this quarter is even more impressive when overlayed with the escalating inflationary environment that is affecting manufacturing businesses.įOD appears to be navigating this inflationary squeeze rather well, given a macro backdrop of labour shortages pushing staffing costs higher, supply chain disruptions, and escalating freight and materials cost.
When CEO Steven Cail was first installed in the top seat he said that FOD was on a Fix → Reset → Grow trajectory. This is second quarter in a row of operating cash flow positive for the $23M capped FOD. Yesterday, FOD announced $11M in gross revenue, a 22.7% increase compared to the previous corresponding period last year. Once is a chance, twice could be the start of a trend…Īfter delivering its first cash flow positive quarter since we Invested 18-months ago, The Food Revolution Group (ASX: FOD) has followed up with another operating cash flow positive quarter – consolidating its financial position and priming the company for growth in FY23.įOD is a beverage manufacturing company, selling its well known juice products in major supermarkets like Coles and Woolworths. S3 Consortium Pty Ltd has been engaged by FOD to share our commentary and opinion on the progress of our investment in FOD over time. Disclosure: The authors of this article and owners of Wise Owl, S3 Consortium Pty Ltd, and associated entities, own 7,857,143 FOD shares and the Company’s staff own 306,722 FOD shares at the time of publication.