Yerbaé Reports Record First Quarter 2023 Financial Results
May 30 2023 - 4:30PM
Business Wire
Record Q1 2023 net revenue of US$3.5 million,
up 130% from US$1.5 million in Q1 2022
Yerbaé Brands Corp. (TSXV: YERB.U) (“Yerbaé” or the
“Company”), a plant-based energy beverage company, reported
record revenue of US$3.5M in net sales in Q1 2023, representing
year-over-year (“YoY”) growth of 130% for the quarter.
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Yerbaé Plant-Based Energy, caffeinated by
Yerba Mate (Photo: Business Wire)
- Volume growth of 130% due to higher velocities in retail,
and increased points of distribution.
- Expansion into 131 outlets of the largest club store chain
in the United States.
- The most recent reported Nielsen consumer behavior data as
of 5.13.23, shows Yerbaé sales in the FMCG Retailer universe up
+356% YoY for L13-wks, and +277% for the first quarter for 2023.
This compares to the energy category which grew +13% YoY for
L13-wks, and +15% in the first quarter over the same time
period.
- Yerbaé launched two new innovative on trend flavors:
Lemonade and Yuzu Lime
Subsequent events
- April unaudited record revenue month of US$1.6 million, up
+171% from US$0.6 million in April 2022.
- On April 18, 2023, Yerbaé announced food service expansion
with Compass Group North America to roughly 10,000 locations across
24 states.
- On April 25, 2023 the company announced its expansion into
185 Hannaford supermarkets throughout the northeastern United
States.
- On May 16, 2023, Yerbaé announced that it has secured a new
accounts receivable and inventory line of credit of US$2,500,000
from Oxford Commercial Finance, a Michigan banking corporation,
through its Delaware subsidiary Yerbaé LLC.
“In addition to higher velocities & increased points of
distribution, this impressive growth can also be attributed to the
increasing consumer demand for plant-based energy drink
alternatives, coupled with the outstanding quality and unique value
proposition of Yerbaé’s energy beverages,” said Karrie Gibson,
Co-Founder, Chief Operating Officer and a director of Yerbaé. “We
are incredibly proud to be at the forefront of this movement,
providing consumers with healthier alternatives that not only fuel
their bodies but also align with their values of sustainability and
well-being.”
“Our first quarter results exemplify the strength of our brand
and the tremendous potential of the plant-based energy drink
market,” said Todd Gibson, Co-Founder, CEO and a director of
Yerbaé. “As the market has been notified already, in 2023 we
anticipate US$12.5M in net sales which is 74% above our previous
year. With the companies growth at +130% in Q1 and +171% in April
of 2023, landing at approximately US$5.1M, Yerbaé believes the
current trajectory puts the brand in a position where we can exceed
these projected sales. Our team remains committed to meeting and
exceeding the expectations of our customers and delivering
consistent growth for our shareholders.”
To learn more, join Yerbaé’s mailing list for important updates
and offers: https://investors.Yerbaé.com.
About Yerbaé Brands Corp.
Founded in 2017 by Todd Gibson and Karrie Gibson, Yerbaé Brands
Corp., (TSXV: YERB.U) is disrupting the energy beverage marketplace
with great tasting, zero sugar, zero calorie beverages, while using
plant-based ingredients that are designed to meet the needs of the
wellness forward consumer. Harnessing the power of nature, Yerbaé’s
celebrity ingredient (Yerba Mate) is known to produce 196 different
vitamins, minerals and nutrients that also produces caffeine.
By combining Yerba Mate, a South American herb with its premium
ingredients and flavors, Yerbaé provides consumers with a no
compromise energy solution. All Yerbaé energy beverages are zero
calorie, zero sugar, non-GMO, and gluten free.
Find us @DrinkYerbaé on Instagram and Facebook.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements relating
to the Company. Statements in this news release that are not purely
historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future, including: statements regarding Yerbaé YoY
growth, the anticipated projected sales of Yerbaé, and general
statements regarding the growth of the functional energy beverage
industry and that Yerbaé’s party as a leading player in the
plant-based functional energy beverage industry. Forward-looking
statements are based on assumptions and are subject to a number of
risks and uncertainties, many of which are beyond our control,
which could cause actual results to differ materially from those
that are disclosed in or implied by such forward-looking
statements. The material assumptions supporting these
forward-looking statements include, among others, that the demand
for the Company’s products will continue to significantly grow;
that the past production capacity of the Company’s co-packing
facilities can be maintained or increased; that there will be
increased production capacity through implementation of new
production facilities, new co-packers and new technology; that
there will be an increase in number of products available for sale
to retailers and consumers; that there will be an expansion in
geographical areas by national retailers carrying the Company’s
products; that the Company’s brokers and distributors will continue
to sell and prioritize the Company’s products; that there will not
be interruptions on production of the Company’s products; that
there will not be a recall of products due to unintended
contamination or other adverse events relating to the Company’s
products; and that the Company will be able to obtain additional
capital to meet the Company’s growing demand and satisfy the
capital expenditure requirements needed to increase production and
support sales activity. Actual results could differ from those
projected in any forward-looking statements due to numerous
factors. Such factors include, among others, governmental
regulations being implemented regarding the production and sale of
energy drinks; the fact that consumers may not embrace and purchase
any of the Company’s products; additional competitors selling
energy drinks reducing the Company’s sales; the fact that the
Company does not own or operate any of its production facilities
and that co-packers may not renew current agreements and/or not
satisfy increased production quotas; the potential for supply chain
interruption due to factors beyond the Company’s control; the fact
that there may be increases in costs and/or shortages of raw
materials and/or ingredients and/or fuel and/or costs of
co-packing; the fact that there may be a recall of products due to
unintended contamination; the inherent uncertainties associated
with operating as an early stage company; changes in customer
demand and the fact that consumers may not embrace energy drink
products as expected or at all; the extent to which the Company is
successful in gaining new long-term relationships with new
retailers and retaining existing relationships with retailers,
brokers, and distributors; the Company’s ability to raise the
additional funding that it will need to continue to pursue its
business, planned capital expansion and sales activity; and
competition in the industry in which the Company operates and
market conditions.
These forward-looking statements are made as of the date of this
news, and the Company assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements, except as required by applicable law, including the
securities laws of the United States and Canada. Although the
Company believes that any beliefs, plans, expectations and
intentions contained in this presentation are reasonable, there can
be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate. Readers should consult all of
the information set forth herein and should also refer to the risk
factors disclosure outlined in greater detail under “Risk Factors”
in the Company’s Information Circular dated November 15, 2022
available on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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For further information on Yerbaé Brands Corp., contact:
Yerbaé Brands Corp.
Investor Relations E: investors@Yerbaé.com P: +1 (480) 471-8391
W: https://Yerbaé.com/
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