Sow Good Q1 EPS $0.06 Up From $(0.29) YoY; Revenue $11.41M Up From $198,930 YoY
Portfolio Pulse from Benzinga Newsdesk
Sow Good reported a significant improvement in its financial performance for Q1 2024, with EPS rising to $0.06 from $(0.29) YoY and revenue increasing to $11.41M from $198,930 YoY. The growth was driven by the company's pivot to selling freeze-dried candy and expanded production capacity. Despite higher operating expenses and lower gross margins due to increased scale, the company achieved a net income of $510.6K compared to a net loss of $(1.4) million in the same period last year.
May 15, 2024 | 12:44 pm
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Sow Good's Q1 2024 results show a significant improvement in financial performance, driven by a pivot to freeze-dried candy and expanded production capacity. EPS rose to $0.06 from $(0.29) YoY, and revenue increased to $11.41M from $198,930 YoY. Despite higher operating expenses and lower gross margins, the company achieved a net income of $510.6K compared to a net loss of $(1.4) million in the same period last year.
The significant improvement in EPS and revenue, along with a shift to profitability, is likely to positively impact Sow Good's stock price in the short term. The company's strategic pivot and expanded production capacity are key drivers of this growth.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100