U.S. Markets open in 9 hrs 3 mins

Better Choice Company Inc. (BTTR)

Other OTC - Other OTC Delayed Price. Currency in USD
Add to watchlist
0.8700-0.0050 (-0.57%)
At close: 3:59PM EDT
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Previous Close0.8750
Open0.9000
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.7400 - 0.9000
52 Week Range0.2400 - 3.3400
Volume178,902
Avg. Volume134,502
Market Cap42.578M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-1.0250
Earnings DateAug 18, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Better Choice Announces Closing of Expanded Series F Financing and Acceleration of Asian Expansion

    Management and Board Have Funded More than $11M to Support GrowthNEW YORK, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Better Choice Company (OTCQB: BTTR) (“Better Choice” or “the Company”), an animal health and wellness company, today announced the closing of an additional $1.1M of Series F financing, bringing the total amount raised to $18.9M. As part of this financing, Management and Board members funded in excess of $11.3M. “In addition to further strengthening our balance sheet, this additional capital allows us to quickly accelerate growth in Asia, specifically China,” said Michael Young, Chairman of the Board.“BTTR plans to allocate a portion of recent proceeds from our Series F financing to improve our online and physical sales presence in Asia, including an expansion of our internal team, building of inventory and targeted marketing spend. Our 2Q20 gross revenue in Asia was ~$2.4M, which represents a ~16% increase over 1Q20. With this type of exponential growth, we see a tremendous first-mover advantage in Asia and are excited about making this a very meaningful contributor to revenue in the near-term. Our international operations, sold through domestic distribution networks, account for approximately 20% of net sales through the first half of 2020. We could see this reach 40% or more as the market continues to mature.”In June, one of Better Choice’s subsidiaries and largest brand, Halo, Purely for Pets, received Product Import Registrations for 15 Holistic Dog and Cat Food Diets from the Ministry of Agriculture and Rural Affairs of China. Halo was the only real, whole meat-based US pet food brand to receive these registrations in this round.Chinese shoppers are set to spend $7 billion on their pets by 2022, according to Reuters. Based on data from Euromonitor, dog and cat food sales in China were $2.2 billion in 2018 and are expected to reach $6.1 billion in 2025, a 28.9% CAGR. Growing demand is being driven by increasing disposable income, changes in consumer lifestyle, and increased pet ownership. While the market is still relatively young in terms of pet ownership, it is growing rapidly.“China’s growing middle class, a massive move to urbanization, and other demographic changes are driving similar pet humanization trends as seen in the US, but with a focus toward smaller breed dogs and indoor cats more suitable for urban markets. With its smaller kibble size versus the competition, Halo is an attractive choice for smaller breeds and is ideally positioned to benefit from these trends,” noted Werner von Pein, Chief Executive Officer. “Our registrations and authorizations to sell through both retail and online channels in China significantly increases our reach. When combined with our solid marketing foundation and our sophisticated go to market operations through our partner Penefit International we are well positioned to build out our distribution.”About Better Choice CompanyBetter Choice Company Inc. is a rapidly growing animal health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier and longer lives. We take an alternative, nutrition-based approach to animal health relative to conventional dog and cat food offerings and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. We have a demonstrated, multi-decade track record of success selling trusted animal health and wellness products and leverage our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet's health. We sell most of our dog food, cat food and treats under the Halo and TruDog brands, which are focused, respectively, on providing sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet dog food and treats. For more information, please visit https://www.betterchoicecompany.com.Forward Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company's risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.Company Contact: Better Choice Company, Inc. Werner von Pein, CEOInvestor Contact:RedChip Companies, Inc. Dave Gentry 407-491-4498 dave@redchip.com

  • GlobeNewswire

    Better Choice Closes $17.8M Insider-led Financing to Expand Its Rapidly Growing E-Commerce, Direct to Consumer and International Channels

    $45M Annual Revenue with Strong Top- and Bottom-line Projected GrowthNEW YORK, Oct. 02, 2020 (GLOBE NEWSWIRE) -- Better Choice Company (OTCQB: BTTR) (“Better Choice” or “the Company”), an animal health and wellness company, today announced the closing of a $17.8M Series F financing. As part of this financing, Management and Board members funded approximately $11M. "We are all very excited about reaching this pivotal point for Better Choice's capital structure," said Michael Young, Chairman of the Board and a key investor in the Series F financing."I have been an active investor in Better Choice for more than two years, having watched it grow into the multi-channel global player it is today. The positive secular trends in the pet sector have never been so strong, and I believe that Better Choice is extremely well positioned in E-Commerce, DTC and Asia to capitalize on the market opportunity."The Company expects to generate revenue of approximately $45M in 2020 with approximately $30M of its sales expected to be generated online, which includes the sale of product to E-Commerce retailers such as Chewy and Amazon as well as Direct-to-Consumer sales through the Company’s online web platform. Direct-to-Consumer sales are expected to represent approximately $13M of sales, with strong recurring revenue. Industry-wide, the online sale of pet products has grown from 22% of sales in 2019, and is expected to exceed 30% of total sales in 2020.International sales, which are sold through domestic distributors, have grown significantly, and are expected to generate $10M in 2020. The Company anticipates additional growth in 2021 of approximately 50% based on current quarterly run-rate figures in its key target markets, which include China, Korea and Japan.The capital from the raise will be deployed to significantly reduce the Company’s outstanding term loan which is expected to reduce the Company’s monthly cash interest by approximately $110,000. The increased balance sheet flexibility will allow the Company to invest growth capital into its Direct-to-Consumer sales platform, further international expansion, most notably in Asia, and pursue potential accretive M&A opportunities.Young commented further, “Post completion of our Series F financing, Management, Board and Insiders will own more than 50% of the Company on a fully diluted basis. Given our current market cap relative to our peers, who trade as high as 10x+ revenue, vs BTTR at <2x, I am excited about the potential for significant upside as we continue our strong top and bottom-line growth.”"Our pet business continues to outperform our internal forecasts, and we are excited to be well-positioned in a rapidly evolving macro-economic environment," said Werner von Pein, Chief Executive Officer. "The Covid-19 pandemic has accelerated the shift to online purchasing in the pet sector. With approximately 65% of our sales at Better Choice expected to be generated online, we have been taking advantage of this rapidly changing dynamic by building a recurring customer base. In addition, we expect many positive results within our Asian business, especially as we continue to ramp exports into China."Under terms of the financing, investors have received units consisting of one share of the Company’s Series F Convertible Preferred Stock which are convertible into shares of the Company’s common stock at a value of $0.50 per share of common stock, and a warrant to purchase for a six year period such number of shares of the Company’s common stock into which such share of Series F Preferred Stock is convertible at an exercise price of $0.75 per share (a 50% premium over the initial conversion price of the Series F Preferred Stock).For a more detailed description of the offering and its related terms, please refer to the Company's filed Form 8-K submitted on October 2, 2020.About Better Choice CompanyBetter Choice Company Inc. is a rapidly growing animal health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier and longer lives. We take an alternative, nutrition-based approach to animal health relative to conventional dog and cat food offerings and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. We have a demonstrated, multi-decade track record of success selling trusted animal health and wellness products and leverage our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. We sell most of our dog food, cat food and treats under the Halo and TruDog brands, which are focused, respectively, on providing sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet dog food and treats. For more information, please visit https://www.betterchoicecompany.com.Forward Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.Company Contact: Better Choice Company, Inc. Werner von Pein, CEOInvestor Contact:RedChip Companies, Inc. Dave Gentry 407-491-4498 dave@redchip.com

  • GlobeNewswire

    Better Choice Company Reports Second Quarter 2020 Financial Results

    NEW YORK, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Better Choice Company, Inc. (OTCQB: BTTR) (the “Company” or “Better Choice”), an animal health and wellness company, today reported its financial results for the second quarter ended June 30, 2020. “We are excited to share our second quarter 2020 results with the investor community. We have made significant progress at Better Choice in the first half of 2020, including integrating the recent Halo acquisition, expanding our e-commerce platform and accelerating our international business in Asia,” said Werner von Pein, CEO of Better Choice.“The e-commerce and direct-to-consumer channels account for approximately 60% of our sales. Recent events surrounding COVID-19 have accelerated the shift toward online purchases of pet products, and Better Choice is well positioned in these channels of trade and in a strong position to benefit from this secular tailwind. We expect e-commerce could grow 20%+ annually over the medium term. Our international business is equally as exciting and is currently doing annual run-rate sales of approximately $10 million. We began shipping our products directly to mainland China in June, after receiving our product import registrations from the Chinese government earlier this year. Currently, we are shipping around eight containers per month and generating approximately $500,000 in monthly sales under this initiative. We continue to expect growth in Asia and are excited by the first-mover advantage Better Choice has in the continent.”Operational Updates * Launched mainland China platform and initiated first shipments overseas * Launched e-commerce platform on Target.com and Walmart.com * Successfully onboarded nine new customers in the Food-Drug-Mass channel * BTTR continues to lead in product innovation, including veganFinancial Results for the Second Quarter and Year-to-Date 2020 * Year-to-date 2020 net revenue of $22.2mm reflects a ~190% increase over the comparable period in 2019. The majority of this increase is attributable to the Halo acquisition completed in December 2019 * Second quarter 2020 net revenue of $9.9mm reflects a ~140% increase over the comparable period in 2Q19. The majority of this increase is also attributable to the Halo acquisition.Conference Call and Webcast Information The Company will host a conference call and audio webcast on Tuesday, August 18th at 8:30 a.m. ET to answer questions about the Company's operational and financial highlights for the second quarter of 2020.Event: Better Choice Second Quarter 2020 Financial Results Conference Call Date: Tuesday, August 18, 2020 Time:  8:30 a.m. Eastern Time Live Call: +1-877-407-4018 (U.S. Toll-Free) or +1-201-689-8471 (International) Webcast:  https://ir.betterchoicecompany.com/ For interested individuals unable to join the conference call, a dial-in replay of the call will be available until September 1, 2020 and can be accessed by dialing +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International) and entering replay pin number: 13708359.Better Choice Company, Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) (Dollars in thousands, except share and per share amounts)  Six Months Ended June 30,  Three Months Ended June 30,    2020   2019   2020   2019                 Net sales $22,167  $7,635  $9,941  $4,084  Cost of goods sold  13,886   4,082   5,817   2,421  Gross profit  8,281   3,553   4,124   1,663  Operating expenses:                 General and administrative  19,650   7,174   11,594   5,211  Share-based compensation  5,504   4,212   3,020   4,006  Sales and marketing  3,807   5,597   1,848   3,412  Customer service and warehousing  352   551   162   297  Total operating expenses  29,313   17,534   16,624   12,926  Loss from operations  (21,032)  (13,981)  (12,500)  (11,263) Other expense:                 Interest expense, net  4,731   124   2,430   62  Loss on acquisitions  -   149,988   -   149,988  Change in fair value of warrant derivative liability  2,095   193   3,474   193  Total other expense, net  6,826   150,305   5,904   150,243  Net and comprehensive loss  (27,858)  (164,286)  (18,404)  (161,506) Preferred dividends  68   27   34   27  Net and comprehensive loss available to common stockholders  (27,926)  (164,313)  (18,438)  (161,533) Weighted average number of shares outstanding, basic and diluted  48,733,052   21,202,188   48,939,708   30,638,048  Loss per share, basic and diluted $(0.57) $(7.75) $(0.38) $(5.27) About Better Choice Company, Inc. Better Choice Company Inc. is a rapidly growing animal health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier and longer lives. We take an alternative, nutrition-based approach to animal health relative to conventional dog and cat food offerings, and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. We have a demonstrated, multi-decade track record of success selling trusted animal health and wellness products, and leverage our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. We sell the majority of our dog food, cat food and treats under the Halo and TruDog brands, which are focused, respectively, on providing sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet dog food and treats. For more information, please visit https://www.betterchoicecompany.com.Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.Company Contact: Better Choice Company, Inc. Werner von Pein, CEOInvestor Contact: Red Chip Companies, Inc Dave Gentry 407-491-4498 dave@redchip.com