Better Choice Company ( (BTTR) ) has released its Q3 earnings. Here is a breakdown of the information Better Choice Company presented to its investors.
Better Choice Company Inc. is a pet health and wellness company that offers a wide range of products to promote the well-being of dogs and cats, utilizing high-quality ingredients and expert formulations.
In its third quarter of 2024, Better Choice Company reported significant improvements in financial performance, highlighted by a 33% increase in revenue from the previous quarter and a notable rise in net income and earnings per share.
The company achieved a 194% year-over-year growth in net income, reaching $1.5 million, and a 132% increase in earnings per share to $0.73. Additionally, Better Choice saw a 255% increase in adjusted EBITDA, marking its first profitable quarter in over four years. Revenue grew to $11.4 million, and gross margin improved by 591 basis points year-over-year to 40%.
Amidst these financial achievements, Better Choice is also benefiting from strategic changes, particularly in its digital channels and international markets, with robust growth in the Asia-Pacific region. The company has paid down short-term obligations, improving its working capital position to $9.5 million.
Looking ahead, Better Choice Company is optimistic about continuing its growth trajectory into 2025, leveraging positive financial results and ongoing strategic initiatives to capitalize on emerging market opportunities in the pet food industry.
