6/21/2023 0 Comments Flow water tsx![]() ![]() Launched Flow Vitamin-Infused Water line of products in three new organic flavors in the United States through and over 100 Fred Meyer locations and, in Canada, with 22 retail partners, representing over 800 locations Maintained market share leadership in carton format and shelf stable water in the United States at 45% in Q1 2023Ĭoncluded a distribution agreement with Foodbuy, the largest food procurement organization in North America, with over 11,000 points of distribution Increased number of North American stores carrying Flow products to over 46,600, from 24,690 in January 2022, an 89% increase Operational Highlights During and Subsequent to Q1 2023 All told, we believe fiscal 2023 will be a transformational year on the path toward our goal of achieving sustainable profitable growth of the Flow brand." We expect the benefits of the Verona production facility sale will become even more pronounced in the second half of the fiscal year as we complete the restructuring of functional areas including logistics, warehousing, distribution and shipping. "We are making substantial progress on the transformation plan we previously communicated, with significant improvement in key indicators, such as gross margin of 30%, and ongoing progress in streamlining our operating model and related expense reductions. We expect the Flow brand to gain further traction through new partnerships in the food service sector, increasing orders from partners signed in the past year, and more retailers adding Flow Vitamin-Infused water to their shelves." ![]() We have successfully expanded our product portfolio, and have added retail and foodservice partners, resulting in Flow brand net revenue growth of 40%. Nicholas Reichenbach, Chairman and Chief Executive Officer of Flow, stated: "Fiscal 2023 is off to a strong start. All currency amounts are stated in Canadian dollars unless otherwise noted. (TSX:FLOW OTCQX:FLWBF) (the "Company" or "Flow"), today announced its financial results for the fiscal quarter ended Janu("Q1 2023"). TORONTO, March 17, 2023-( BUSINESS WIRE)- Flow Beverage Corp. $26 million in cash as of January 31, 2023Ĭash flows used in operations of $4.8 million in Q1 2023, an improvement of $7.1 million or 60%ĭelivering expected results from strategic initiatives and operational improvements The Canaccord Genuity team included Brian Bacal, Brian Hurley and Jack Xia from Investment Banking.Flow brand net revenue increased 40% in Q1 2023 Today, the brand is B-Corp Certified with a best-in-class score of 126.5, offering a diversified line of health and wellness-oriented beverage products: original naturally alkaline spring water, award-winning organic flavours, collagen-infused and vitamin-infused flavours in sizes ranging from 330-ml to 1-litre.Ĭanaccord Genuity acted as financial advisor to Flow with respect to the Loan. Founded in 2014, Flow’s mission since day one has been to reduce environmental impacts by providing sustainably sourced naturally alkaline spring water in a recyclable and up to 75% renewable, plant-based pack. Flow has initially drawn $15.3 million pursuant to the Loan and has the ability, subject to certain conditions, to draw an additional $5.0 million prior to the one-year anniversary of the initial draw under the Loan.įlow intends to use the Loan proceeds to repay $9.6 million in unsecured notes, as well as to invest in the growth of the Flow brand, working capital and for general corporate purposes.įlow is one of the fastest-growing premium water companies in North America. (TSX: FLOW) ("Flow"), announced that it has entered into a senior secured term loan (the "Loan") of up to $20.3 million. ![]() on its $20 Million Senior Secured Debt FacilityĬanaccord Genuity is pleased to announce that on January 3, 2023, its client, Flow Beverage Corp. Canaccord Genuity Acts as Financial Advisor to Flow Beverage Corp. ![]()
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