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Smart for Life | 10-K: FY2023 Annual Report

Smart for Life | 10-K: FY2023 Annual Report

Smart for Life | 10-K：2023财年年报
美股SEC公告 ·  2024/09/21 04:57

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Smart for Life reported total revenue of $8.2 million for fiscal year 2023, down from $15.9 million in 2022, primarily due to cash constraints affecting raw material purchases and production capacity. The company recorded a net loss of $22.7 million compared to $30.0 million in the prior year, while gross profit margin improved to 37.6% from 32.0%.Management has implemented significant restructuring initiatives including staff reductions, the sale of BSNM manufacturing facility, and divestiture of Ceautamed's assets into First Health FL LLC for a 49% ownership stake. The company also executed multiple debt-to-equity conversions totaling $15.3 million to strengthen its balance sheet and completed warrant exercises generating $7.3 million in proceeds.Looking ahead, Smart for Life is pursuing strategic acquisitions including the pending purchase of Purely Optimal Nutrition for $12.0 million. The company secured new financing arrangements including a $500,000 credit facility with Abbsi LLC and continues to focus on operational efficiencies while expanding its nutraceutical product portfolio through both organic growth and M&A activities.
Smart for Life reported total revenue of $8.2 million for fiscal year 2023, down from $15.9 million in 2022, primarily due to cash constraints affecting raw material purchases and production capacity. The company recorded a net loss of $22.7 million compared to $30.0 million in the prior year, while gross profit margin improved to 37.6% from 32.0%.Management has implemented significant restructuring initiatives including staff reductions, the sale of BSNM manufacturing facility, and divestiture of Ceautamed's assets into First Health FL LLC for a 49% ownership stake. The company also executed multiple debt-to-equity conversions totaling $15.3 million to strengthen its balance sheet and completed warrant exercises generating $7.3 million in proceeds.Looking ahead, Smart for Life is pursuing strategic acquisitions including the pending purchase of Purely Optimal Nutrition for $12.0 million. The company secured new financing arrangements including a $500,000 credit facility with Abbsi LLC and continues to focus on operational efficiencies while expanding its nutraceutical product portfolio through both organic growth and M&A activities.
Smart for Life报告了2023财年的总营业收入为820万美元，较2022年的1590万美元下降，主要是由于现金限制影响了原材料采购和生产能力。公司记录的净亏损为2270万美元，而去年为3000万美元，毛利润率从32.0%提高到37.6%。管理层已实施重组措施，包括裁员、出售BSNm制造设施，以及将Ceautamed的资产剥离给First Health FL LLC以获取49%的股份。公司还进行了多项债转股，总计1530万美元，以增强其资产负债表，并完成了募股权的行使，产生了730万美元的收益。展望未来，Smart for Life正在追求战略收购，包括即将以1200万美元收购Purely Optimal Nutrition。公司获得了新的融资安排，包括与Abbsi LLC的50万美元信贷额度，并继续专注于运营效率，同时通过有机增长和并购活动扩大其营养保健产品组合。
Smart for Life报告了2023财年的总营业收入为820万美元，较2022年的1590万美元下降，主要是由于现金限制影响了原材料采购和生产能力。公司记录的净亏损为2270万美元，而去年为3000万美元，毛利润率从32.0%提高到37.6%。管理层已实施重组措施，包括裁员、出售BSNm制造设施，以及将Ceautamed的资产剥离给First Health FL LLC以获取49%的股份。公司还进行了多项债转股，总计1530万美元，以增强其资产负债表，并完成了募股权的行使，产生了730万美元的收益。展望未来，Smart for Life正在追求战略收购，包括即将以1200万美元收购Purely Optimal Nutrition。公司获得了新的融资安排，包括与Abbsi LLC的50万美元信贷额度，并继续专注于运营效率，同时通过有机增长和并购活动扩大其营养保健产品组合。
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