Associated tags: Meal, OTCQB, E-commerce
Locations: BONITA SPRINGS, FL, US, CHICAGO, UNITED STATES, SCANDINAVIA, SOUTH AFRICA, MALAY, CARIBBEAN, FINLAND, ROMAN, NEW ENGLAND, SOUTH
Retrieved on:
Thursday, November 9, 2023
BONITA SPRINGS, Fla., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional chefs and home gourmets, today reported its financial results for the third quarter of 2023.
Key Points:
- “During the third quarter, we continued to focus on profit during our year of stabilization, with gross margins increasing 568 basis points to 28.2%.
- The B2B sales cycle is long, but we are optimistic about how today’s efforts will drive results next year.
- Revenues in the 2023 third quarter decreased 13.8% to $17.3 million, compared to $20.1 million for the three months ended September 30, 2023.
- The following table sets forth IVFH’s revenue by business category for the months ended September 30, 2023, and September 30, 2022 (unaudited):
Retrieved on:
Tuesday, October 31, 2023
BONITA SPRINGS, Fla., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to Professional Chefs and Home Gourmets, today announced that the Company will host an investor call on November 9, 2023 at 9:00 am Eastern Time via Zoom and by phone.
Key Points:
- BONITA SPRINGS, Fla., Oct. 31, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to Professional Chefs and Home Gourmets, today announced that the Company will host an investor call on November 9, 2023 at 9:00 am Eastern Time via Zoom and by phone.
- The purpose of the meeting will be for management to discuss the Company's third fiscal quarter results for the quarter ended September 30, 2023, followed by Q&A with investors.
- The company will also provide additional details on its future strategy.
- Details for the meeting are as follows:
Retrieved on:
Thursday, August 10, 2023
Specialty,
SG,
Food industry,
Marketing,
OTCQB,
E-commerce,
EBITDA,
USDA,
Video game,
Cryptocurrency,
Bank BONITA SPRINGS, Fla., Aug. 10, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional chefs and home gourmets, today reported its financial results for the second quarter of 2023.
Key Points:
- Second quarter adjusted EBITDA improved by $1.2 million to $453,947, first profitable second quarter since 2019
$1.3 million in positive cash flow from operations, an improvement of $1.7 million compared to Q2 2022
BONITA SPRINGS, Fla., Aug. 10, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional chefs and home gourmets, today reported its financial results for the second quarter of 2023.
- Now that we’ve run four quarters of marketing cuts and revenue declines, we expect these revenue headwinds to subside in future quarters.
- Revenues in the 2023 second quarter decreased 8.2% to $18.8 million, compared to $20.5 million for the three months ended June 30, 2023.
- The following table sets forth IVFH’s revenue by business category for the months ended June 30, 2023, and June 30, 2022 (unaudited):
BONITA SPRINGS, Fla., Aug. 01, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to Professional Chefs and Home Gourmets, today announced that the Company will host an investor call on August 10, 2023 at 9:00 am Eastern Time via Zoom and by phone.
Key Points:
- BONITA SPRINGS, Fla., Aug. 01, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to Professional Chefs and Home Gourmets, today announced that the Company will host an investor call on August 10, 2023 at 9:00 am Eastern Time via Zoom and by phone.
- The purpose of the meeting will be for management to discuss the Company's second fiscal quarter results for the quarter ended June 30, 2023, followed by Q&A with investors.
- Investors and other interested participants may attend the call on the web or by phone as follows:
In addition, the Company has made important progress on the evolution of its e-commerce strategy.
Key Points:
- In addition, the Company has made important progress on the evolution of its e-commerce strategy.
- Lastly, Mr. Bennett has implemented a Company-wide re-organization dubbed “One IVFH” to put the customer at the center of the Company.
- “I have focused my first 100 days on getting the right leaders in the right roles and on setting the Company on a path to driving shareholder value,” stated Bill Bennett, CEO of IVFH.
- Further details on the call timing and logistics will be the subject of a future press release.”
The USDA Guarantee enabled the refinancing of the company’s existing term loans with Maple Mark, extending the terms to 10 and 25 years respectively and provided IVFH access to additional commercial borrowing capacity.
Key Points:
- The USDA Guarantee enabled the refinancing of the company’s existing term loans with Maple Mark, extending the terms to 10 and 25 years respectively and provided IVFH access to additional commercial borrowing capacity.
- “Approval of the USDA Guarantee and incremental credit from Maple Mark is a transformational milestone that strengthens our balance sheet and provides IVFH with additional long-term growth capital.
- The Company’s credit facility was offered through MapleMark Bank, and Oak Hill Securities advised IVFH on the transaction.
- Additional details on the credit facility may be found in the Current Report on Form 8-K which will be filed shortly with the Securities and Exchange Commission (the “SEC”).
BONITA SPRINGS, Fla., May 31, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (IVFH), a national seller of gourmet specialty foods to professional and home chefs, today announced that the Board elected James C. Pappas as Chairman of the Board replacing Sam Klepfish who remains a director of the Company.
Key Points:
- BONITA SPRINGS, Fla., May 31, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (IVFH), a national seller of gourmet specialty foods to professional and home chefs, today announced that the Board elected James C. Pappas as Chairman of the Board replacing Sam Klepfish who remains a director of the Company.
- Over the last few months, IVFH has added three highly experienced directors to its Board including Denver Smith, Bill Bennett, and Brady Smallwood.
- “On behalf of my fellow Board members, I want to welcome James to the role of Chairman.
- I look forward to his counsel and leadership as Chairman,” states Bill Bennett, CEO of Innovative Food Holdings.
Kroger,
University of Chicago Booth School of Business,
E-commerce,
Brigham Young University,
Organization,
Business administration,
University,
Coty Inc.,
Freddie Mac,
Growth,
SR,
Management,
American Capital,
Business,
Walmart BONITA SPRINGS, Fla., May 17, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (IVFH), a national seller of gourmet specialty foods to professional and home chefs today announced the hiring of Brady Smallwood as Chief Operating Officer. As Chief Operating Officer, Mr. Smallwood will develop, integrate, and oversee companywide strategies designed to maximize efficiencies and drive growth across all business categories.
Key Points:
- BONITA SPRINGS, Fla., May 17, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (IVFH), a national seller of gourmet specialty foods to professional and home chefs today announced the hiring of Brady Smallwood as Chief Operating Officer.
- As Chief Operating Officer, Mr. Smallwood will develop, integrate, and oversee companywide strategies designed to maximize efficiencies and drive growth across all business categories.
- “We are excited to welcome Brady to IVFH.
- We believe Brady’s skillset will help drive and execute our strategic objectives and deliver value to our shareholders,” states Bill Bennett, CEO of Innovative Food Holdings.
Travel,
Food industry,
Marketing,
Culture,
OTCQB,
E-commerce,
Innovative Food Science and Emerging Technologies,
USDA,
Restaurant,
Pleasure,
Video game BONITA SPRINGS, Fla., May 16, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional and home chefs, today reported its financial results for the first quarter of 2023.
Key Points:
- BONITA SPRINGS, Fla., May 16, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional and home chefs, today reported its financial results for the first quarter of 2023.
- Overall profitability during the quarter was impacted by approximately $1.9 million of one-time employee severance as a result of our recent leadership transition.
- Backing out these one-time expenses, our first quarter adjusted net loss would have improved by 49%, reflecting the third consecutive quarter of improved adjusted profitability.
- The following table sets forth IVFH’s revenue by business category for the months ended March 31, 2023, and March 31, 2022 (unaudited):
Partnership,
Food,
SG,
OTCQB,
E-commerce,
Acquisition,
Fortune 500,
USDA,
Growth,
Letter,
Management,
Video game,
Retail BONITA SPRINGS, Fla., April 10, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional and home chefs today released the following letter from the Chief Executive Officer to Shareholders.
Key Points:
- BONITA SPRINGS, Fla., April 10, 2023 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional and home chefs today released the following letter from the Chief Executive Officer to Shareholders.
- With just a few weeks under my belt, it is thrilling to write my first letter to our shareholders.
- As you may know, I joined IVFH as CEO on February 28, 2023, after an extensive career at several Fortune 500 food, consumer, and retail companies.
- I am excited by the opportunities ahead of us and believe the Company can create significant value for its customers, team members, and shareholders.
