Guru Organic Energy reports Q2 EPS (C$0.09) vs. (C$0.08) last year

Reports Q2 revenue C$8M vs. C$7.7M last year. “GURU has now achieved its fifth consecutive quarter of topline growth and a 19% increase in year-to-date net revenue. This quarter’s performance was primarily driven by an impressive 143% increase in sales from our US wholesale club and online channels in Q2. Our performance in the US market is another indication that our brand has the potential to grow at a faster pace. Retail sales also performed well in Quebec and at select grocery banners in major urban centres in other Canadian provinces,” said Carl Goyette, CEO. “While our Q2 results were impacted by inventory adjustments by our exclusive Canadian distributor, a factor beyond our control, underlying demand for our energy drinks remains strong in most of our sales channels and is showing continued momentum with the recent Quebec launch of our two latest innovations, Peach Mango Punch and our first zero sugar product, Zero Wild Berry. These innovations delivered a record-breaking performance in a leading grocery banner with a combined market share of 5.2% in the first few weeks. Zero Wild Berry is also receiving rave reviews from consumers and will therefore be launching in the US this fall, alongside two new flavors. As we pursue our growth, we are also accelerating our return to historical profitability. We have a long runway for self-funded growth, with $38.2 million in liquidities and credit facilities. We are focused on strategically deploying resources and capital where we can deliver tangible results and a return on investment. We will also continue to actively explore the untapped potential of the online and wholesale club channels in Canada and the US, which have generated promising results over the last three quarters. Our 25 years in the business have shown the power of our strong and differentiated brand to drive enviable customer loyalty when we convert and connect with consumers. Our job is to make sure we are focusing on the right channels and strategies for our brand to achieve this on a North American scale. We believe that we are on the right track to achieve our long-term objective to clean up the energy drink industry.”