Better Choice Clocks 57% Revenue Growth In Q1; Plans Buyback

Better Choice Company Inc BTTR reported first-quarter FY22 sales growth of 57% year-on-year, to $17 million, beating the consensus of $15.24 million.
The gross profit increased 10.1% Y/Y to $4.7 million with a profit margin of 27.7%.
Operating expenses declined 7.9% to $8.7 million. The operating loss narrowed to $(3.96) million versus a loss of $(5.1) million last year.
Adjusted EBITDA loss expanded to $(2.02) million versus a loss of $(1.03) million the previous year. EPS loss was $(0.14).
BTTR held $23.4 million in cash and equivalents as of March 31, 2022.
"In spite of unprecedented supply chain disruptions felt across the consumer-packaged goods industry, we were able to deliver 57% growth in net sales relative to Q1 2021, driven by 178% growth in International sales and 129% growth in Brick & Mortar sales," said CEO Scott Lerner.
The board of directors has authorized a share buyback program to purchase up to $3 million of the company's shares.
Price Action: BTTR shares traded higher by 3.48% at $2.08 on the last check Thursday.

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