EXCLUSIVE-Simply Better Brands Raises FY22 Outlook Driven By Increased Business Momentum

Simply Better Brands Corp PKANF has raised its 2022 financial outlook based on year-to-date results and business momentum.
The company expects a 440% jump in the sales of the quarter ending June 30, 2022, to $16.8 million.
The company sees gross margin for the quarter ending June 30, 2022, at 69% versus 59% a year ago.
Simply Better’s growth was driven by the customer, category, channel, and geographic expansion.
The company has raised FY22 sales outlook to $50 million - $55 million (prior value: $40 million - $42 million).
The gross margin as a percentage of net sales is expected to increase to 63%-65% (Prior Value: 58-60%).
The company continues its expectation to achieve positive Adjusted EBITDA for fiscal 2022.
“As our strong first-half results illustrate, we are positioned for sustainable and positive adjusted EBITDA growth in 2022 driven by our PureKana, TRUBAR, and No B.S. Skincare brands,” said CEO Kathy Casey.
Price Action: PKANF shares closed lower by 6.93% at $0.14 on Tuesday.
Photo via Company