Yerbaé Reports Record First Quarter 2023 Financial Results
Record Q1 2023 net revenue of US$3.5 million, up 130% from US$1.5 million in Q1 2022
Yerbaé Brands Corp. (TSXV: YERB.U) (“Yerbaé” or the “Company”), a plant-based energy beverage company, reported record revenue of US$3.5M in net sales in Q1 2023, representing year-over-year (“YoY”) growth of 130% for the quarter.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230530005668/en/
Yerbaé Plant-Based Energy, caffeinated by Yerba Mate (Photo: Business Wire)
- Volume growth of 130% due to higher velocities in retail, and increased points of distribution.
- Expansion into 131 outlets of the largest club store chain in the United States.
- The most recent reported Nielsen consumer behavior data as of 5.13.23, shows Yerbaé sales in the FMCG Retailer universe up +356% YoY for L13-wks, and +277% for the first quarter for 2023. This compares to the energy category which grew +13% YoY for L13-wks, and +15% in the first quarter over the same time period.
- Yerbaé launched two new innovative on trend flavors: Lemonade and Yuzu Lime
- April unaudited record revenue month of US$1.6 million, up +171% from US$0.6 million in April 2022.
- On April 18, 2023, Yerbaé announced food service expansion with Compass Group North America to roughly 10,000 locations across 24 states.
- On April 25, 2023 the company announced its expansion into 185 Hannaford supermarkets throughout the northeastern United States.
- On May 16, 2023, Yerbaé announced that it has secured a new accounts receivable and inventory line of credit of US$2,500,000 from Oxford Commercial Finance, a Michigan banking corporation, through its Delaware subsidiary Yerbaé LLC.
“In addition to higher velocities & increased points of distribution, this impressive growth can also be attributed to the increasing consumer demand for plant-based energy drink alternatives, coupled with the outstanding quality and unique value proposition of Yerbaé’s energy beverages,” said Karrie Gibson, Co-Founder, Chief Operating Officer and a director of Yerbaé. “We are incredibly proud to be at the forefront of this movement, providing consumers with healthier alternatives that not only fuel their bodies but also align with their values of sustainability and well-being.”
“Our first quarter results exemplify the strength of our brand and the tremendous potential of the plant-based energy drink market,” said Todd Gibson, Co-Founder, CEO and a director of Yerbaé. “As the market has been notified already, in 2023 we anticipate US$12.5M in net sales which is 74% above our previous year. With the companies growth at +130% in Q1 and +171% in April of 2023, landing at approximately US$5.1M, Yerbaé believes the current trajectory puts the brand in a position where we can exceed these projected sales. Our team remains committed to meeting and exceeding the expectations of our customers and delivering consistent growth for our shareholders.”
To learn more, join Yerbaé’s mailing list for important updates and offers: https://investors.Yerbaé.com.
About Yerbaé Brands Corp.
Founded in 2017 by Todd Gibson and Karrie Gibson, Yerbaé Brands Corp., (TSXV: YERB.U) is disrupting the energy beverage marketplace with great tasting, zero sugar, zero calorie beverages, while using plant-based ingredients that are designed to meet the needs of the wellness forward consumer. Harnessing the power of nature, Yerbaé’s celebrity ingredient (Yerba Mate) is known to produce 196 different vitamins, minerals and nutrients that also produces caffeine.
By combining Yerba Mate, a South American herb with its premium ingredients and flavors, Yerbaé provides consumers with a no compromise energy solution. All Yerbaé energy beverages are zero calorie, zero sugar, non-GMO, and gluten free.
Find us @DrinkYerbaé on Instagram and Facebook.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements relating to the Company. Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including: statements regarding Yerbaé YoY growth, the anticipated projected sales of Yerbaé, and general statements regarding the growth of the functional energy beverage industry and that Yerbaé’s party as a leading player in the plant-based functional energy beverage industry. Forward-looking statements are based on assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. The material assumptions supporting these forward-looking statements include, among others, that the demand for the Company’s products will continue to significantly grow; that the past production capacity of the Company’s co-packing facilities can be maintained or increased; that there will be increased production capacity through implementation of new production facilities, new co-packers and new technology; that there will be an increase in number of products available for sale to retailers and consumers; that there will be an expansion in geographical areas by national retailers carrying the Company’s products; that the Company’s brokers and distributors will continue to sell and prioritize the Company’s products; that there will not be interruptions on production of the Company’s products; that there will not be a recall of products due to unintended contamination or other adverse events relating to the Company’s products; and that the Company will be able to obtain additional capital to meet the Company’s growing demand and satisfy the capital expenditure requirements needed to increase production and support sales activity. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, governmental regulations being implemented regarding the production and sale of energy drinks; the fact that consumers may not embrace and purchase any of the Company’s products; additional competitors selling energy drinks reducing the Company’s sales; the fact that the Company does not own or operate any of its production facilities and that co-packers may not renew current agreements and/or not satisfy increased production quotas; the potential for supply chain interruption due to factors beyond the Company’s control; the fact that there may be increases in costs and/or shortages of raw materials and/or ingredients and/or fuel and/or costs of co-packing; the fact that there may be a recall of products due to unintended contamination; the inherent uncertainties associated with operating as an early stage company; changes in customer demand and the fact that consumers may not embrace energy drink products as expected or at all; the extent to which the Company is successful in gaining new long-term relationships with new retailers and retaining existing relationships with retailers, brokers, and distributors; the Company’s ability to raise the additional funding that it will need to continue to pursue its business, planned capital expansion and sales activity; and competition in the industry in which the Company operates and market conditions.
These forward-looking statements are made as of the date of this news, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this presentation are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Readers should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in greater detail under “Risk Factors” in the Company’s Information Circular dated November 15, 2022 available on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information on Yerbaé Brands Corp., contact:
Yerbaé Brands Corp.
P: +1 (480) 471-8391