BranchOut Food Highlights Revenue Gains of 276% and $9M in Committed Annualized Sales for 2024

Pioneering food technology company, BranchOut Food Inc. (Nasdaq: BOF), has announced its financial results for the fourth quarter and year ended December 31, 2023, including net revenue of $2.83 million for 2023, up 276% year over year due to major retailer engagements.

Commenting on the results, Eric Healy, CEO of BranchOut Food said, “Our corporate strategy has propelled strong revenue growth in 2023, and we expect to continue this trajectory in 2024. Our current commitments are now at $9.0M in annualized sales for 2024. However, we anticipate additional sales wins throughout the remainder of the year that should push this even higher.”

During 2023, the company’s top branded snack enjoyed significant commercial success, expanding into the Southern California and Bay Area regions of the nation’s largest warehouse club. BranchOut Food has secured roughly $1.1 million in commitments for 2024, expanding into eight states.

In February 2024, the company expanded its relationship with the nation’s largest retailer, signing a new agreement valued at an estimated $7.6 million annually. BranchOut Food also made its debut into the Convenience Store Channel during the year with the launch of its branded line in Jacksons Food Stores, which has approximately 300 locations.

The company reported net revenue for the full year of $2.83 million, compared to $752,178 for the year ended December 31, 2022, an increase of $2,073,677, or 276%. Net loss for the twelve months ended December 31, 2023 decreased by 19%.

About BranchOut Food Inc.

BranchOut Food is an international food-tech company delivering truly great natural snacks and real superfood ingredients enabled by its licensed dehydration technology. The company’s GentleDry Technology is the next generation in dehydration technology, preserving up to 95% of the original nutrition of fresh fruits and vegetables. BranchOut’s technology is protected by more than 17 patents. BranchOut Food is proud to be a leading provider of high-quality dehydrated fruit and vegetable-based products and its commitment to quality and innovation sets it apart as a trusted brand and private label supplier. For more information about BranchOut Food Inc. and its products, please visit www.branchoutfood.com and follow us on LinkedIn and Twitter.

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BranchOut Food Highlights Revenue Gains of 276% and $9M in Committed Annualized Sales for 2024

Catie Corcoran

Biotech Editor