BillionToOne wins bullish backing, but Jefferies and Wells Fargo urge caution
REGINA - Above Food Ingredients Inc. (NASDAQ:ABVE) announced Friday that it has eliminated all corporate debt and expects to deliver more than $30 million in profit for the fiscal year ending January 31, 2026, according to a press release statement. The company, currently valued at a market capitalization of $134.63 million, has seen its stock price surge to $2.63, representing a remarkable 387% return year-to-date according to InvestingPro data.
The company reported its audit is progressing toward completion with a targeted filing of its Form 20-F by December 12, 2025. Above Food has not applied for the additional 180-day extension available under Nasdaq rules. Despite the positive news, InvestingPro data indicates the company’s overall financial health score remains weak at 1.71, suggesting investors should monitor the upcoming audit results closely.
The agricultural and food technology company has implemented a comprehensive restructuring program over the past year in collaboration with Palm Global, with whom it is advancing a merger. While the fiscal year ended January 31, 2025 will reflect a restructuring-related loss, the company states it is now positioned for sustainable profitability. This strategic shift has coincided with impressive stock performance, with ABVE shares gaining 128.7% over the past six months and 24.06% in just the last week.
Senior executive teams from both organizations have been working together to capitalize on Palm Global’s initiatives and partnerships, build operational frameworks, and align corporate strategies. Recent strategic meetings between the combined executive team took place in the UAE.
"Above Food has reached yet another major milestone in its journey. With the successful elimination of corporate debt and the expected delivery of more than $30 million in profit for the fiscal year ending January 31, 2026, we have demonstrated the strength of our restructuring," said Lionel Kambeitz, Chief Executive Officer and Executive Chairman of Above Food. InvestingPro analysis highlights that while ABVE has delivered a 279% return over the past year, the company still suffers from weak gross profit margins, one of several insights available to subscribers.
The company expects to release additional announcements about key milestones achieved within the partnership and next steps in the merger process.
In other recent news, Above Food Ingredients Inc. has secured a $20 million investment from Aqua 1 Foundation through a convertible note financing round. The investment, which converts at $2.50 per share, is aimed at supporting Above Food’s scaling and growth strategy. Aqua 1 Foundation, known for its significant investment in World Liberty Financial, will also offer technological support to Above Food. In a separate development, Burkina Faso has partnered with Palm Promax Investments LLC, a subsidiary of Above Food’s merger partner Palm Global Technologies, to launch a gold- and mineral-backed digital currency. The West African nation has committed up to $8 trillion in untapped gold and mineral assets to back this stablecoin. This partnership was announced at the UAE 2030 National Vision event in Abu Dhabi. These recent developments mark significant strategic moves for Above Food and its associated ventures.
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