Muscle Maker's Sadot Crosses $500M Total Revenue Milestone

Muscle Maker Inc GRIL said Sadot LLC, a wholly-owned subsidiary, crossed the $500 million total revenue since inception by registering revenue of over $45.7 million for the month of June 2023. 

This marks the eighth consecutive month in which top-line revenue has exceeded $45 million.

“With our recently announced amendment to the service agreement with AGGIA, which reduces the quarterly non-cash stock-based compensation expense by 50%, our monthly revenues are expected to have a more favorable impact on our financial reporting with the intended result of improving the bottom-line results for our company,” said CEO Michael Roper.

Also Read: Muscle Maker Acquires Zambia Farmland For $8.5M

Muscle Maker and its agri-foods subsidiary, Sadot LLC, connect producers and consumers across the globe, delivering agri-commodities from producing geographies such as the Americas, Africa, and the Black Sea to consumer markets in Southeast Asia, China, and the Middle East/North Africa (MENA) region.

Both parties now operate within three verticals of the global food supply chain including farming and warehousing, global agri-commodity sourcing and trading operations for food/feed products such as soybean meal, wheat, and corn and food service operations with more than 50 restaurants across the U.S.

Price Action: GRIL shares are trading higher by 7.4% at $1.38 on the last check Monday.