Else Nutrition Reports Third Quarter 2021 Results
posted on
Nov 29, 2021 05:07PM
$2.4M In Revenue For Q2-23
Hamutal Yitzhak, Else CEO, commented: “Else is a company that should not yet be measured solely by Quarters. We are building a pathway to be a potential global leader in the plant-based nutrition arena and aiming for a multibillion-dollar market in 5 years. We are making great strides each quarter and have achieved significant milestones in this quarter including our Walmart.com and Kroger online partnerships. We also completed the development of two new product lines, and we expect momentum to continue and accelerate throughout the remainder of the year and beyond.”
VANCOUVER, British Columbia, Nov. 29, 2021 (GLOBE NEWSWIRE) -- ELSE NUTRITION HOLDINGS INC. ((TSXV: BABY) (OTCQX: BABYF) (FSE: 0YL) ("Else" or the "Company") the plant-based baby, toddler and children nutrition company , today announced results for its third quarter ended September 30, 2021.
Management is pleased to announce it achieved significant progress executing its go-to-market plan in the US market, growing its product range to include 4 flavors of Kid Shakes, expanding online sales to include Walmart.com and Kroger-owned online platforms, and getting listed at more than 1,200 US natural food and grocery retail stores (already on-shelf at close to 1,000 of these stores).
The following summarizes the major achievements in the third quarter of 2021 along with the financial highlights. Full financial results can be found in the Company News section of our website at https://elsenutrition.com/pages/investor-relations or on SEDAR.
Q3 2021 Financial Highlights
Impact of COVID-19
We experience the effect of the pandemic in all areas of our business, from delays in raw material deliveries, to clinical and product development projects and absence of key persons in the company from time to time. Due to lockdowns and other COVID-19 related measures all our business meeting, marketing events, conferences and expos were either canceled or turned virtual, slowing down the pace of our business development efforts.
About Else Nutrition Holdings Inc.
Else Nutrition GH Ltd. is an Israel-based food and nutrition company focused on developing innovative, clean and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy, formula is a clean-ingredient alternative to dairy-based formula. Else Nutrition (formerly INDI) won the "2017 Best Health and Diet Solutions" award at the Global Food Innovation Summit in Milan. Else Plant-Based Complete Nutrition for Toddlers was recently ranked as the #1 Top seller in the baby and toddler formula category on Amazon. The holding company, Else Nutrition Holdings Inc., is a publicly traded company, listed as TSX Venture Exchange under the trading symbol BABY and is quoted on the US OTC Markets QX board under the trading symbol BABYF and on the Frankfurt Exchange under the symbol 0YL. Else's Executives includes leaders hailing from leading infant nutrition companies. Many of Else advisory board members had past executive roles in companies such as Mead Johnson, Abbott Nutrition, Plum Organics and leading infant nutrition Societies, and some of them currently serve in different roles in leading medical centers and academic institutes such as Boston Children's Hospital, Pediatrics at Harvard Medical School, USA, Tel Aviv University, Schneider Children's Medical Center of Israel, Rambam Medical Center and Technion, Israel and University Hospital Brussels, Belgium.