'For the second consecutive quarter, we have continued to demonstrate growth and momentum as our team expanded distribution and increased velocity of our core products into key retail channels,' said
Q2 2022 Financial Highlights:
Revenues of
Net revenues of
Selling, general & administrative expenses of
Net income of
Achievements in the first half of 2022 include:
Since the beginning of 2022, the Company has achieved more than 3,700 new grocery retail doors and more than 9,600 new Total Distribution Points ('TDP') in key retailers, including
Continued ecommerce growth, with more than 12,000 customers purchasing product through Amazon.com in Q2 2022, and 36% repeat customers during that period.
Expanded the distribution of the Hope and Sesame Barista Blend into cafes via a network of food service distributors.
Launched the Hope and Sesame Non-GMO shelf-stable product line, replacing and expanding on the previous Organic Hope and Sesame products and packaging/branding.
Expanded new Hope and Sesame 48 oz refrigerated line, initially launched in January at 400
Showcased the Company's brands at: Specialty Coffee Expo (
In Q2 2022, Hope and Sesame Barista Blend started rolling out to distributors, securing distribution coverage across key areas of the
Sesamemilk received industry and media recognition as a major up and coming trend in cafes:
At CoffeeFest Chicago, a specialty coffee show targeting baristas, independent cafes, and distributors to the independent cafe market, Hope and Sesame Barista Blend was awarded the 2022 Best Product Award. At the
Coverage in
Expanded the distribution of the Mozaics Non-GMO Real Veggie Chips into ecommerce and multiple UNFI distribution warehouses in both 0.75 oz snack and 3.5 oz retail sizes, setting the stage for growth into additional grocery retailers and foodservice.
Both RightRice and Mozaics have been established as recurring items showcased live on QVC, and Veggicopia made its successful debut in
Expanded the distribution of RightRice at more than 1,500 doors, including leading
About The
Planting Hope develops, launches, and scales uniquely innovative plant-based and planet-friendly food and beverage brands. Planting Hope's award-winning and cutting-edge products fill key unmet needs in the skyrocketing plant-based food and beverage space. The Planting Hope brand family includes Hope and Sesame Sesamemilk and Sesamilk creamers, RightRice Veggie Rice, Mozaics Real Veggie Chips, and Veggicopia Veggie Snacks. Founded by experienced food industry entrepreneurs, Planting Hope is a women-managed and woman-led company focused on nutrition, sustainability, and diversity. For more information, visit: www.plantinghopecompany.com.
For purposes of currency FX conversion, this press release uses a
Contact:
CEO and Co-founder
T: (773) 492-2243
E: julia@plantinghopecompany.com
Forward-Looking Statements
This news release contains 'forward-looking statements' or 'forward-looking information' (collectively referred to hereafter as 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements that address activities, events, or developments that the Company expects or anticipates will, or may, occur in the future, including statements about the Company's ability to execute on its goals, the timing pertaining to these goals the potential demand for the Company's products, the timing and success of anticipated product launches and distribution of the Company's products, and the Company's business prospects, future trends, plans and strategies. In some cases, forward looking statements are preceded by, followed by, or include words such as 'may', 'will,' 'would', 'could', 'should', 'believes', 'estimates', 'projects', 'potential', 'expects', 'plans', 'anticipates', 'continues', or the negative of those words or other similar or comparable words. In preparing the forward looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that demand for the Company's product will be sustained or increase in accordance with management's projections, that the Company's internal research and analysis is indicative of broader market trends and the Company's anticipated future demand for its products, that changes in consumer preferences in the plant-based food industry will continue in accordance with the Company's expectations, that the Company's current business objectives can be achieved and that its other corporate activities will proceed as expected, and that general business and economic conditions will not change in a materially adverse manner. Although the management of the Company believes that the assumptions made and the expectations represented by such statements are reasonable, there can be no assurance that any forward-looking statement herein will prove to be accurate. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Risks and uncertainties applicable to the Company, as well as trends identified by the Company affecting its industry can be found in the Company's annual information form dated
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