Tattooed Chef Reports Mixed Q4 Results, Clocks 32% Top-Line Growth

Tattooed Chef Inc TTCF reported fourth-quarter FY21 sales growth of 32.2% year-on-year to $52.3 million, beating the consensus of $51.07 million.
Tattooed Chef branded product revenue increased 21.7% to $29.2 million, constituting 56% of total revenue.
The gross profit declined 75% Y/Y to $1.1 million with a gross margin of 2.1% versus 11.1% last year.
The operating loss narrowed to $(13.7) million in the quarter.
The company held $92.4 million in cash and equivalents as of December 31, 2021.
Adjusted EBITDA loss was $(11.4) million versus $(1.7) million last year.
EPS loss was $(0.17) versus $1.01 last year, missing the consensus of $(0.08).
Outlook: Tattooed Chef sees FY22 revenue of $280 million - $285 million versus the consensus of $282.99 million. The company expects an FY22 gross margin of 10% - 12%.
Price Action: TTCF shares are trading lower by 1.90% at $10.85 in premarket on the last check Wednesday.