- MamaMancini's Holdings Inc MMMB reported fourth-quarter FY22 sales growth of 38.5% year-on-year to $13.9 million, beating the consensus of $12.24 million.
- The gross profit declined 26.8% Y/Y to $2.4 million with a margin of 17.3%.
- The operating expenses for the quarter rose 57.1% to $3.8 million.
- The company held $0.9 million in cash and equivalents as of January 31, 2022. Net cash provided by operating activities for the year totaled $0.91 million.
- EPS of $(0.04) missed the analyst consensus of $(0.03).
- Outlook: MamaMancini's expects to generate at least $20 million in sales in 1Q23 and approach a $100 million annual sales run-rate over the next year.
- Price Action: MMMB shares are trading higher by 8.88% at $1.35 on the last check Tuesday.
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