BranchOut Announces Preliminary Q4 2023 Revenue of ~$1.6 Million, 43% Sequential Growth Over the Previous Quarter; Revenue Now at ~$6.4 Million Annual Run Rate
23 January 2024 - 12:00AM
BranchOut Food Inc. (NASDAQ: BOF), a pioneering food technology
company and producer of dehydrated fruit and vegetable-based
products, today announced preliminary gross revenue for its fourth
quarter ended December 31, 2023.
Preliminary Q4 2023 gross revenue reached
approximately $1.6 million, outpacing Q3 2023 gross revenue of $1.1
million by 43%, and full year 2022 gross revenue of approximately
$888,000 by more 80%.
Eric Healy, CEO of BranchOut Foods, commented:
“BranchOut had a great fourth quarter with preliminary revenue
nearly double all of last year’s revenue. We launched a number of
new customers in recent months and have entered the new year with
great momentum. We expect revenue to continue to grow at high rates
in 2024 and gross margin to continue to improve as the year
progresses. With ongoing expansion of our product lines and
customer base, BranchOut Food looks forward to another record
year.”
About BranchOut Food
Inc.
BranchOut Food is an
international food-tech company delivering truly great natural
snacks and real superfood ingredients enabled by its licensed
dehydration technology. The company’s GentleDry Technology is the
next generation in dehydration technology, preserving up to 95% of
the original nutrition of fresh fruits and vegetables. BranchOut’s
technology is protected by more than 17 patents. BranchOut Food is
proud to be a leading provider of high-quality dehydrated fruit and
vegetable-based products and its commitment to quality and
innovation sets it apart as a trusted brand and private label
supplier. For more information about BranchOut Food Inc. and its
products, please visit www.branchoutfood.com and follow
us on LinkedIn and Twitter.
Forward-Looking Statement
This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements relate to expectations or forecasts of
future events. Forward-looking statements may be identified using
words such as "forecast," "intend," "seek," "target," "anticipate,"
"believe," "expect," "estimate", "plan," "outlook," and "project"
and other similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
Forward-looking statements with respect to the operations of
BranchOut Food, Inc., (the Company) strategies, prospects and other
aspects of the business of the Company are based on current
expectations that are subject to known and unknown risks and
uncertainties, which could cause actual results or outcomes to
differ materially from expectations expressed or implied by such
forward-looking statements. You are cautioned not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. Although it may voluntarily do so from time to
time, the Company undertakes no commitment to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable
securities laws.
Contacts:Investor
Relations:Stephanie PrincePCG Advisorysprince@pcgadvisory.com(646)
863-6341
Media:BranchOut Food
Inc. info@branchoutfood.com
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