Gross Margin Improvement
Gross margin improved to 45.6% in fiscal year 2024, up from 44.3% in 2023, indicating better cost efficiency and product mix.
Successful Product Innovation
Launch of new product lines such as PlusHealth supplements and Plus CBD pet chews, contributing to 28% of the full-year 2024 revenue.
Strategic Acquisitions
Completed two acquisitions, Cultured Foods and Elevated Soft Gels, to expand product lines and increase manufacturing capabilities.
Revenue Stability in Competitive Market
Maintained revenue of $15.7 million in 2024 despite a challenging market, showing resilience compared to competitors facing declines.
Cost Reduction Efforts
Reduced operating expenses by 5.4% in 2024, with ongoing efforts to enhance cost efficiency.