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TAMPA, Fla. - Better Choice Company, Inc. (NYSE American: BTTR), a pet health and wellness firm, has regained compliance with NYSE American's listing standards after addressing previous deficiencies. The company, which specializes in nutrition-based pet products, received a formal notice from the NYSE American LLC confirming its adherence to the required standards for two consecutive quarters. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt and a current ratio of 2.1, indicating strong short-term liquidity.
The Exchange had previously communicated concerns regarding sections 1003(a)(i) and 1003(a)(ii) of the Company Guide in letters dated April 24, 2024, and July 9, 2024. These sections typically relate to financial thresholds that companies must meet to maintain their listings. Better Choice's Chairman, Michael Young, stated that regaining compliance is a significant affirmation of the company's efforts to solidify its financial base and is indicative of its commitment to disciplined management and the creation of long-term shareholder value. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with analysts forecasting sales growth of 6.15% for the current year.
Better Choice Company Inc. positions itself as a leader in the shift towards healthier and longer lives for pets. It promotes an alternative approach to pet health compared to traditional pet food offerings, aligning with trends such as pet humanization and consumer emphasis on health and wellness. Most of its products, including dog and cat food as well as treats, are sold under the Halo brand, which emphasizes sustainably sourced and minimally processed ingredients. With a market capitalization of $3.72 million and a price-to-book ratio of 0.43, the company presents interesting metrics for value investors. For deeper insights into Better Choice's financial health and growth potential, access the comprehensive Pro Research Report available on InvestingPro, which includes 16 additional ProTips and extensive financial analysis.
The information for this article is based on a press release statement from Better Choice Company, Inc. and enhanced with financial data from InvestingPro.
In other recent news, Better Choice Company Inc. reported its fourth quarter 2024 financial results, showcasing a notable improvement in its net loss, which reduced significantly to $168,000 from $23 million the previous year. Despite a 9% decrease in annual net revenues to $35 million, the company achieved a 650 basis point increase in gross profit margin, reaching 37%. The Halo brand, a key component of Better Choice's portfolio, experienced a 26% increase in Q4 revenue year-over-year, highlighting strong performance. Additionally, the company improved its adjusted EBITDA loss by 78% to $1.9 million and reduced inventory by over 40%, contributing to operational efficiency. In another development, Better Choice announced a strategic financial move involving the acquisition of SRx Health Solutions, Inc., with SRx Health converting CAD$4 million of debt into equity. This merger is expected to be completed by late April and is anticipated to enhance Better Choice's position in the global health and wellness market. Furthermore, Better Choice plans to sell its Halo Asia business for $8.1 million, which aligns with its strategic objectives. These recent developments reflect Better Choice's focus on growth and financial stability.
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