Stryve Foods Posts 71% Sales Growth In Q2

  • Stryve Foods Inc SNAX reported second-quarter FY21 sales growth of 71.8% year-on-year, to $7.35 million.
  • Wholesale revenue increased 57% Y/Y, and e-commerce gained 55%.
  • Gross profit rose 148.3% Y/Y to $3.6 million with a profit margin expanding 1500 basis points to 48.7%.
  • Operating expense increased 65.2% Y/Y to $1.0 million. Selling and marketing expenses increased 87.0% to $4.3 million. 
  • The operating loss widened to $(4.97) million, and the net loss deepened to $(5.56) million.
  • The company held $1.2 million in cash and equivalents as of June 30, 2021.
  • On July 20, 2021, Stryve Foods, LLC and Andina completed their business combination, and formed Stryve Foods.
  • Outlook: Stryve Foods sees FY21 sales of $31 million - $34 million.
  • Price Action: SNAX shares closed lower by 0.44% at $6.85 on Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!