Working capital

EQS-News: Westwing ended 2023 with continued profitable growth in Q4 and started well into 2024. Topline outlook remains cautious.

Retrieved on:

Wednesday, April 10, 2024

EUR, Software as a service, Science Based Targets initiative, Growth, Breuninger, FY, Shop, Science, Collection, Marketing, Annual general meeting, Investment, Working capital, GMV, Targets

Westwing ended 2023 with continued profitable growth in Q4 and started well into 2024.

Key Points:

Westwing ended 2023 with continued profitable growth in Q4 and started well into 2024.
Westwing ended 2023 with continued profitable growth in Q4 and started well into 2024.
Westwing also delivered profitability in the upper half of the updated (increased) guidance, with EUR 18 million Adjusted EBITDA in FY 2023.
Due to the ongoing challenging market environment as well as topline risks in Italy and Spain, Revenue outlook for 2024 is still cautious.

CervoMed Announces Up to $149.4 Million Private Placement Financing Joined by Leading Healthcare Investors

Retrieved on:

Thursday, March 28, 2024

Lewy body, Exercise, Patient, Research, Sale, Prospectus, Morgan Stanley, Unit, Series, Working capital, Dementia, CRVO, Security (finance)

BOSTON, March 28, 2024 (GLOBE NEWSWIRE) -- CervoMed Inc. (NASDAQ: CRVO), a clinical-stage company focused on developing treatments for age-related neurologic disorders (the “Company”), today announced that it has entered into a definitive securities purchase agreement for a private placement to sell an aggregate of 2,532,285 units (the “Units”), each Unit comprised of (i) (A) one share of its common stock or (B) one pre-funded warrant to purchase shares of its common stock, and in each case, (ii) one Series A warrant to purchase shares of its common stock to a select group of institutional and accredited healthcare specialist investors in a private placement. A Unit comprised of one share of common stock and one Series A warrant shall have a purchase price of $19.745 and a Unit comprised of one pre-funded warrant and one Series A warrant shall have a purchase price of $19.744.

Key Points:

The pre-funded warrants have an exercise price of $0.001 per share, will be immediately exercisable and will not expire.
The private placement is expected to close on or about April 1, 2024, subject to customary closing conditions.
The financing is being led by RA Capital Management and includes participation from other new institutional investors, including Armistice Capital, Special Situations Funds and Soleus Capital.
Morgan Stanley and Canaccord Genuity are acting as placement agents for the private placement.

UpHealth Provides Corporate Update and Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on:

Thursday, March 21, 2024

DELRAY BEACH, Fla., March 21, 2024 (GLOBE NEWSWIRE) -- UpHealth, Inc. (“we,” “UpHealth,” or the “Company”) (OTC: UPHL) today provided a corporate update and announced financial results for the fourth quarter and full year ended December 31, 2023.

Key Points:

“In short, 2023 was a challenging, yet transformative, year for UpHealth, as we continued to take steps to stabilize the business,” said Martin Beck, Chief Executive Officer.
Growth in proforma revenues in the fourth quarter of 2023 was driven by top line growth at TTC Healthcare and Cloudbreak and by certain non-recurring revenues associated with the cessation of operations at Thrasys;
Proforma fourth quarter 2023 gross margins were 62%, compared to 45% for the fourth quarter of 2022.
Proforma margin improvement in the fourth quarter was largely driven by an improved payor mix at TTC Healthcare;
Proforma fourth quarter 2023 Adjusted EBITDA was $11.1 million, compared with $1.9 million in the fourth quarter of 2022.
TTC Healthcare’s performance in 2023, and in particular the fourth quarter 2023, was driven by strong volumes and a significantly improved payor mix.

Innovative Food Holdings, Inc. Reports Financial Results for Fourth Quarter and Fiscal Year 2023

Retrieved on:

Thursday, March 21, 2024

E-commerce, Working capital, USDA, GAAP, Rationalization, OTCQB, Marketing, Advertising, Food industry, Pharmaceutical industry

BONITA SPRINGS, Fla., March 21, 2024 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional chefs, today reported its financial results for the fourth quarter and fiscal year of 2023.

Key Points:

Bill Bennett, Chief Executive Officer of IVFH, remarked, “2023 marked an incredible turnaround for Innovative Food Holdings.
Excluding the effect of restructuring, severance, and one-time related outflows and expenses during the year, the company has become cash flow positive.
Revenues in fiscal year 2023 decreased 8.5% to $72.2 million, impacted by a 6.5% decrease in specialty foodservice revenue.
The following table sets forth IVFH’s revenue by business category for the year ended December 31, 2023, and December 31, 2022 (unaudited):

UpHealth Completes Sale of Cloudbreak Health at $180 Million Full Cash Deal

Retrieved on:

Monday, March 18, 2024

Working capital, IGI, Tax, Bed, Veterans' affairs, Patient, Religion, Sale, Investment, Annual report, GTCR

“This transaction is one more critical milestone in the last three years of UpHealth, Inc.’s journey to focus the Company on its strategic core and most profitable businesses.

Key Points:

“This transaction is one more critical milestone in the last three years of UpHealth, Inc.’s journey to focus the Company on its strategic core and most profitable businesses.
The sale announced today of Cloudbreak, and the sale of IGI in May 2023 in a $56 million cash deal, have together generated to the Company about $235 million of cash that has allowed us to significantly reduce the liabilities of the Company and enhance its business focus and the financial performance, all resulting in unlocking meaningful value to our stakeholders.
“The Cloudbreak sale transaction will significantly deleverage our balance sheet, stabilize our business and empower us to concentrate our resources on TTC Healthcare,” said Martin Beck, Chief Executive Officer.
The proceeds of the Cloudbreak sale, after transaction-related fees and expenses, have been deposited into three escrow accounts: a Notes escrow ($139 million), a Tax escrow ($27 million) and a Working Capital escrow ($3 million).

H.B. Fuller Reports First Quarter 2024 Results

Retrieved on:

Wednesday, March 27, 2024

Fuller Company (NYSE: FUL) today reported financial results for its first quarter that ended March 2, 2024.

Key Points:

Fuller Company (NYSE: FUL) today reported financial results for its first quarter that ended March 2, 2024.
Summary of First Quarter 2024 Results:
The Company’s net revenue for the first quarter of fiscal 2024 was $810 million, up 0.2% versus the first quarter of fiscal 2023.
Fuller for the first quarter of fiscal 2024 was $31 million, or $0.55 per diluted share.
Net working capital in the first quarter of fiscal 2024 declined $25 million sequentially versus the fourth quarter and $87 million year-on-year.

Boxlight Reports Fourth Quarter and Full Year 2023 Financial Results

Retrieved on:

Wednesday, March 13, 2024

Software, Audio, Video, Hardware, Other Education, Continuing, Technology, Primary, Secondary, Education, EPS, Working capital, Optimism, Corporation, Adjustment, Perception, Three Months, Total, Pharmaceutical industry

Boxlight Corporation (Nasdaq: BOXL) (“Boxlight” or the “Company”), a leading provider of interactive technology solutions, today announced the Company’s financial results for the fourth quarter and full year ended December 31, 2023.

Key Points:

Boxlight Corporation (Nasdaq: BOXL) (“Boxlight” or the “Company”), a leading provider of interactive technology solutions, today announced the Company’s financial results for the fourth quarter and full year ended December 31, 2023.
Gross profit for Q4'23 was $12.3 million as compared to $14.4 million for Q4'22, resulting in a decrease of 14.5%.
At December 31, 2023, Boxlight had $17.3 million in cash and cash equivalents, $54.1 million in working capital, and $40.2 million in debt, net of debt issuance costs.
The Company will hold a conference call to announce its fourth quarter and full year 2023 financial results on Wednesday, March 13, 2024, at 4:30 p.m. Eastern Time.

MINERVA FOODS RECORDS EBITDA OF R$ 2,6 BILLION IN 2023

Retrieved on:

Tuesday, March 26, 2024

Cattle, Working capital, Net, Meat, BPU, Minerva, Acquisition, CPC, Marfrig, ALC, Net income

SÃO PAULO, March 26, 2024 /PRNewswire/ -- Minerva Foods (Minerva S.A. – B3: BEEF3 | OTC – Nasdaq International: MRVSY), the South American leader in the export of fresh beef and cattle by products, which also operates in the processed foods segment, announces to the market the financial results for 2023.

Key Points:

SÃO PAULO, March 26, 2024 /PRNewswire/ -- Minerva Foods (Minerva S.A. – B3: BEEF3 | OTC – Nasdaq International: MRVSY), the South American leader in the export of fresh beef and cattle by products, which also operates in the processed foods segment, announces to the market the financial results for 2023.
In 2023, recurring Free Cash Flow, adjusted by the acquisitions of Australia Lamb Company (ALC) and BPU Meat (Uruguay), totaled R$ 535,7 million.
Consolidated Gross Revenue totaled R$ 28,6 billion in 2023, with exports reaching 65% of revenue.
In 2023, EBITDA totaled R$ 2,6 billion, with an EBITDA margin of 9,5%.

MINERVA FOODS RECORDS EBITDA OF R$ 2,6 BILLION IN 2023

Retrieved on:

Tuesday, March 26, 2024

Cattle, Working capital, Net, Meat, BPU, Minerva, Acquisition, CPC, Marfrig, ALC, Net income

SÃO PAULO, March 26, 2024 /PRNewswire/ -- Minerva Foods (Minerva S.A. – B3: BEEF3 | OTC – Nasdaq International: MRVSY), the South American leader in the export of fresh beef and cattle by products, which also operates in the processed foods segment, announces to the market the financial results for 2023.

Key Points:

SÃO PAULO, March 26, 2024 /PRNewswire/ -- Minerva Foods (Minerva S.A. – B3: BEEF3 | OTC – Nasdaq International: MRVSY), the South American leader in the export of fresh beef and cattle by products, which also operates in the processed foods segment, announces to the market the financial results for 2023.
In 2023, recurring Free Cash Flow, adjusted by the acquisitions of Australia Lamb Company (ALC) and BPU Meat (Uruguay), totaled R$ 535,7 million.
Consolidated Gross Revenue totaled R$ 28,6 billion in 2023, with exports reaching 65% of revenue.
In 2023, EBITDA totaled R$ 2,6 billion, with an EBITDA margin of 9,5%.

Trucept Inc. Achieves Remarkable Financial Milestones in 2023

Retrieved on:

Monday, March 25, 2024

Working capital, OTC Markets Group, Growth, Accounts receivable, Corporation, Development, Renewable energy

ESCONDIDO, Calif., March 25, 2024 /PRNewswire/ -- Trucept Inc. (OTC Pink: TREP ) is pleased to announce significant achievements in its financial performance for the fiscal year 2023.

Key Points:

ESCONDIDO, Calif., March 25, 2024 /PRNewswire/ -- Trucept Inc. (OTC Pink: TREP ) is pleased to announce significant achievements in its financial performance for the fiscal year 2023.
Successful Accounts Receivable Collection Efforts: Trucept focused its Accounts Receivable collection efforts in 2023, resulting in a substantial reduction in its AR balance by $4,118,457.
Impressive Increase in Working Capital: Trucept accomplished a remarkable 111% increase in Working Capital during 2023.
Sustained Operational Efficiencies and Corporate Growth: While focusing on corporate growth initiatives, Trucept also maintained its operational efficiencies throughout 2023.