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EXCLUSIVE-Simply Better Brands Raises FY22 Outlook Driven By Increased Business Momentum

Simply Better Brands Corp (OTC: PKANF) has raised its 2022 financial outlook based on year-to-date results and business momentum. The company expects a 440% jump in the sales of the quarter ending June 30, 2022, to $16.8 million.
byShivani Kumaresan
July 13, 2022
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  • Simply Better Brands Corp (OTC:PKANF) has raised its 2022 financial outlook based on year-to-date results and business momentum.
  • The company expects a 440% jump in the sales of the quarter ending June 30, 2022, to $16.8 million.
  • The company sees gross margin for the quarter ending June 30, 2022, at 69% versus 59% a year ago.
  • Simply Better’s growth was driven by the customer, category, channel, and geographic expansion.
  • The company has raised FY22 sales outlook to $50 million – $55 million (prior value: $40 million – $42 million).
  • The gross margin as a percentage of net sales is expected to increase to 63%-65% (Prior Value: 58-60%).
  • The company continues its expectation to achieve positive Adjusted EBITDA for fiscal 2022.
  • “As our strong first-half results illustrate, we are positioned for sustainable and positive adjusted EBITDA growth in 2022 driven by our PureKana, TRUBAR, and No B.S. Skincare brands,” said CEO Kathy Casey.
  • Price Action: PKANF shares closed lower by 6.93% at $0.14 on Tuesday.
  • Photo via Company
 
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