NewAge Announces Preliminary Q4 2020 Results
February 16 2021 - 7:00AM
NewAge, Inc. (Nasdaq: NBEV), the Colorado-based
healthy products company intending to become the world’s leading
social selling and distribution company today announced that it
anticipates net revenue for the fourth quarter of 2020 to be in the
$90 million dollar range, Gross Margin in the 64% – 68% range, with
EBITDA to be around breakeven. The company will report its fourth
quarter and full-year results on March 16, 2021.
Brent Willis, Chief Executive Officer of NewAge,
commented, “We are pleased that our anticipated fourth quarter
revenue will be higher than we anticipated and significantly above
expectations. We are seeing strong growth coming from our European
and Americas regions and are also seeing renewed growth in Japan,
our largest market. Our global sales force of independent brand
partners continue to adapt to the new way of operating an
e-commerce business from home, the new multifunctional hub. The
convergence between NewAge and ARIIX is also beginning to deliver
results and we are on track to achieve our committed cost synergies
and deliver positive EBITDA in 2021 as our growth and cost savings
translate to positive net income and free cash flow.”
On November 16, 2020, NewAge closed its merger
transaction with ARIIX and began fully integrating and converging
the two organizations. Accordingly, fourth quarter results for
NewAge will include operating results for ARIIX from the November
16 close date forward.
NewAge, Inc will release its full fourth quarter
and full year results before the market opens on Tuesday, March 16.
The management team will host a conference call with investors at
8:30am ET that same morning. The webcast of the conference call
will be broadcast live and available on the investors section of
our website at https://newagebev.com/en-us/our-story/investors.
About NewAge, Inc. NewAge is a
purpose-driven firm intending to become the world’s leading social
selling and distribution company. Colorado-based NewAge
commercializes a portfolio of organic and healthy products
worldwide through primarily a direct route-to-market system. The
company competes in three major category platforms including health
and wellness, healthy appearance, and nutritional performance and
leads a network of more than 400,000 exclusive independent
distributors and brand partners around the world.
The Company operates the
websites NewAge.com, Noninewage.com, Ariix.com,
Mavie.com, Thelimucompany.com, Zennoa.com and a number of other
individual brand websites.
Safe Harbor Disclosure
This press release contains forward-looking
statements that are made under the safe harbor provisions within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements are any statement reflecting
management's expectations regarding future results of operations,
economic performance, financial condition, the acquisition of
ARIIX, statements about the benefit of the ARIIX transaction, the
combined financial expectations of NewAge and ARIIX and the extent
and duration of COVID-19 on its business. The forward-looking
statements are based on the assumption that operating performance
and results will continue in line with historical results.
Management believes these assumptions to be reasonable, but there
is no assurance they will prove to be accurate. Forward-looking
statements, specifically those concerning future performance, are
subject to certain risks and uncertainties and actual results may
differ materially. NewAge competes in a rapidly growing and
transforming industry and risk factors, including those disclosed
in the Company's filings with the Securities and Exchange
Commission, might affect the Company's operations. Unless required
by applicable law, the Company undertakes no obligation to update
or revise any forward-looking statements.
For investor inquiries
about NewAge please contact:
NewAge Investor Relations:Riley TimmerVice
President, Investor RelationsTel:
1-801-870-8685Riley_Timmer@NewAge.com
Investor Relations Counsel:John Mills / Reed
AndersonICR – Strategic Communications and AdvisoryTel:
1-646-277-1254/1-646-277-1260NewAge@icrinc.com
NewAge Inc:Brent D. WillisChief Executive
OfficerTel: 1-303-566-3031Brent_Willis@NewAge.com
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