Chomps meat snack brand expands to 30,000 retail locations with NetSuite

LAS VEGAS - Chomps, a meat snack brand, has implemented Oracle NetSuite’s business management suite to support its expansion to more than 30,000 retail locations across the United States, according to a press release statement. Oracle (ORCL), a prominent player in the software industry with a market capitalization of $783 billion, has been delivering strong returns for investors, with its stock price up over 73% in the past year.

The company, which produces protein-rich meat sticks, has leveraged NetSuite’s platform to streamline financial processes, improve visibility across operations, and establish infrastructure for continued growth. According to InvestingPro, Oracle’s robust solutions have helped drive its revenue to $59 billion in the last twelve months, with a healthy gross profit margin of nearly 70%.

Founded in 2012 by Pete Maldonado and Rashid Ali, Chomps has been recognized on the Inc. 5000 list of fastest-growing private companies for eight consecutive years. The brand is now available at major retailers including Trader Joe’s, Costco, Target, Walmart, Whole Foods, Kroger, and Sprouts.

"NetSuite has been an important part of enhancing financial and operational execution for Chomps," said Timothy Bosslet, chief financial officer at Chomps. "By streamlining financial processes and integrating workflows with NetSuite, our team can focus more on strategy and growth."

The implementation has enabled Chomps to accelerate its financial closing processes and improve accuracy in accounts receivable, accounts payable, and general ledger operations. The company also utilizes NetSuite’s inventory management capabilities to monitor stock levels and optimize fulfillment.

Additionally, Chomps has developed custom solutions using NetSuite SuiteScript to monitor prices, calculate weights from purchase orders, and automate data required for electronic data interchange reporting.

Chomps produces meat sticks made from grass-fed beef and venison, as well as antibiotic-free turkey, with each product containing 10-12 grams of protein.

In other recent news, Oracle has introduced new AI agents within its Fusion Cloud Applications to assist customer experience leaders in enhancing operations and driving revenue growth. These AI agents are integrated into marketing, sales, and service processes, aiming to automate workflows and analyze connected data to improve customer relationships. In addition, Oracle is investigating hacks of its E-Business Suite applications after an extortion campaign targeted several large organizations. The company had previously issued patches for the exploited vulnerabilities in July.

Meanwhile, analyst firms Mizuho and KeyBanc Capital Markets have both reiterated their positive outlooks on Oracle. Mizuho maintained its Outperform rating and a $350 price target, viewing the upcoming Financial Analyst Day as crucial for highlighting Oracle’s long-term AI growth potential. Similarly, KeyBanc Capital Markets reiterated an Overweight rating and a $350 price target, focusing on Oracle’s cloud infrastructure capital expenditure conversion rates. These developments highlight Oracle’s strategic focus on AI and cloud technology, despite recent challenges.

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